* CBS Interactive taps Snyder as COO
Stephen Snyder has been named COO of CBS Interactive, a newly-formed division.
Snyder, most recently the SVP and GM of CBS SportsLine, will now oversee the operations of CBS Interactive’s Web sites, which include CBSNews.com, and CBS SportsLine.com, among others.
He reports to CBS Interactive President Quincy Smith.
“We have a tremendous collection of properties within CBS Interactive, and I look forward to working with all our teams as we build upon our growth and development, and learn from each other’s best practices,” said Snyder.
* Andrew, PCT/Andes tie fates
Andrew Corp. is increasing its stake in Andes Industries Inc. to 30 percent. Andes is a holding company, whose principal subsidiary is cable components supplier PCT International. At the same time, Andrew sold its broadband cable manufacturing operations in Yantai, China. The deal, according to Andrew, combines the companies’ broadband cable assets. As part of the deal, Andrew will receive approximately $16 million in cash and short-term notes from Andes.
* Level 3 closes SAVVIS CDN deal
Level 3 Communications has sewn up its earlier-announced deal to acquire the content delivery network (CDN) services business of SAVVIS Inc.
Under the deal, first announced on Dec. 23, 2006, Level 3 put up $132 million in cash for those assets, which cover network elements, customer contracts and intellectual property tied to SAVVIS’ CDN business.
“The opportunities presented by delivering rich media applications over the Internet continue to increase, and the addition of CDN capabilities to our service portfolio will enable Level 3 to better address this important market,” said Kevin O’Hara, president and chief operating officer of Level 3, in a statement.
