• by Wayne Friedman , May 5, 2009

CBS is starting up a new business unit -- CBS Interactive Music Group -- that will incorporate the company's digital music assets: CBS Radio and its Last.fm music site.

David Goodman, a longtime veteran of CBS Radio, has been named the group's president. Since December 2007, Goodman had been president of digital media and integrated marketing for CBS Radio.

The new unit includes CBS Radio and its more than 100 music Web sites and online audio streams -- as well as Last.fm, which offers music fans millions of music tracks in every genre, with radio streaming and free-on-demand offerings through partnerships including Universal, EMI and Sony BMG.

CIMG is a chance to create "richer content experiences, deeper targeted advertising opportunities driven by experts in local and national sales, increases in overall audience and time spent with our brands," Goodman said in a statement.

This will be the fifth business group inside CBS Interactive. Other business units focus on technology and news; business; sports and games; and entertainment and lifestyle. Goodman will report to Neil Ashe, the president of CBS Interactive. Goodman will also work with Dan Mason, president/CEO of CBS Radio.

The company says its CBS Radio's recent agreements with AOL Radio and Yahoo LAUNCHcast, amounting to more than 400 stations, have vaulted CBS Radio to the No. 1 most-listened-to online radio service.

The company says the combined assets of the newly formed CBS Interactive Music Group will reach almost 40 million unique monthly users worldwide.