DOW JONES NEWSWIRES CBS Corp. (CBS) named Wolfgang Hammer and Terry Press co-presidents of CBS Films, as the media company looks to expand its films division. "In Terry and Wolfgang, we are fortunate to have two very skilled executives, each with terrific knowledge of the business and strong resumes of innovation," said CBS President and Chief Executive Leslie Moonves. Press, who has been consulting for the studio since 2010, will oversee the creative, distribution, marketing and physical production for CBS Films. She previously served as principal of 7570 Marketing Inc., where she consulted on CBS films such as "The Mechanic," "Salmon Fishing in the Yemen" and "The Woman in Black." She has also consulted on films such as "The Hunger Games," "Julie & Julia," and "The Social Network" and previously served as the head of marketing for DreamWorks SKG. Hammer, who previously served as the chief operating officer for CBS Films, will oversee all business, finance, legal affairs and acquisitions for the division. Prior to CBS Films, Hammer was the executive vice president of Lions Gate Entertainment Corp.'s (LGF) motion pictures segment and served as vice president of production at Media Rights Capital. In February, CBS reported its fourth-quarter profit climbed 31% as profitable digital streaming and affiliate deals offset the effect of lower advertising revenue. CBS had notched modest revenue improvements for most of the past year as syndication deals for older shows like "Cheers" complemented healthy ad sales from its existing primetime lineup. Its growing international audience has also proved especially profitable. Shares were recently off 2% to $32.65. The stock is up 20% since the start of the year. -By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; nathalie.tadena@dowjones.com
