NEWS: CBS Interactive Gets $2 Million Ad Buy From GM (CBS)

CBS Interactive Gets $2 Million Ad Buy From GM (CBS)

from Silicon Alley Insider by Michael Learmonth

A source tells us CBS Interactive just got an ad buy from GM in the $2.2 to $2.3 million range. The deal, with Starcom MediaVest unit GM Planworks, was reached earlier this week. Given the timing, the buy could be connected to a broader upfront deal. CBS declined to comment and hasn't yet announced whether any upfront talks, which are going on now, have resulted in a deal.

Assuming the deal goes through, it would mean CBS just got a little more than 1% of the $197 million GM spent on the Web last year. As Adage reported earlier this spring, GM plans to move half of its ad spending online by 2011. Last year the company spent a total of $3 billion on ads.

In March, CEO Les Moonves said the company sold $200 million in online advertising in 2007 and would book between $260 million and $280 million in 2008. That, however, was before theacquisition of CNET, which will help boost CBS's digital revenues to $1 billion by 2010 or 2011.

Related: GM Shifting 50% Of Ad Spending Online