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Smith replaces Kramer atop CBS Corp. digital unit


November 06, 2006 Smith already has been working with CBS Corp. during the past nine months in an advisory capacity at Allen & Co. on deals including the company's shortform content deployment on YouTube implemented last month; it was the investment bank's Sun Valley retreat where Moonves met the viral-video site's creators. CBS and Allen & Co. recently signed on as investors in Spot Runner, a startup company involved in making local advertising purchases more efficient. Kramer's contributions at CBS included adding online video at CBS News -- which he termed a "cable news bypass" -- plus extending the SportsLine and CBS.com brands.

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