CBS beefs up digital business with Clicker Media acquisition

CBS has acquired Clicker Media and installed its co-founder, Jim Lanzone, as president of CBS Interactive, putting him in charge of shaping the broadcast giant's strategy in the fast-changing digital world. For more than two years, Lanzone has been building Clicker into what is considered the "TV Guide" of the Internet.

The service allows consumers to sort through hundreds of thousands of TV show episodes and movies available online by cataloging them and providing search results and viewing recommendations. Now, Lanzone will have much more expansive duties at CBS, leading a group of about 3,000 employees at a critical time. All media companies, including CBS, must navigate the shifting digital landscape as they struggle to preserve their traditional economic models and figure out how to make money in the "everything for free" culture of the Internet.