CBS Buys ‘Green’ Media Firm EcoMedia

CBS (NYSE: CBS) has made a small acquisition, buying EcoMedia, an environmental media firm. The two companies had already been working together in local CBS markets; under their partnership, advertisers could allocate a portion of their CBS ad spending to a local environmental project that EcoMedia identified as needing funding. So far, EcoMedia says it has invested $1.5 million in environmental projects, including a project to install solar panels at the Long Beach Airport. CBS says all of its divisions will now work with EcoMedia “to bring advertisers a new way to engage consumers while improving the environment.” No financial terms were disclosed.