CBS Corp. announced Quincy Smith president of CBS Interactive while Mark Jung, co-founder of IGN and CEO when it was acquired by News Corp., has left his role as COO of Fox Interactive Media (FIM).

CBS Corp. also announced that Larry Kramer has stepped down from his position as president of CBS Digital Media but will remain with the company as an advisor.

Smith will oversee CBS digital assets which include CBS SportsLine.com, CBSNews.com and CBS.com, as well as Innertube, a new website offering original programming as well as the streaming of CBS's most popular series. CBS is hoping that Innertube will compete with the popular video-sharing site YouTube, which was recently bought by Google Inc. for $1.65 billion.

"The promise of the interactive space lies in its ability to showcase world-class content on a variety of new technologies, and to create new communities that will enable CBS to be closer to and learn more from its audience than ever before," says Smith. "With unparalleled reach in television, radio, outdoor and publishing, this company has a unique, built-in advantage as it continues to transition into the interactive future."

Over at FOX Interactive, CEO Ross Levinsohn will be assuming COO Mark Jung's role. "I'll just have a couple more people reporting to me," he told the San Jose Mercury News, which first reported the move.

Jung was hired as COO for FIM just nine months ago. It is rumored that popular social networking site and MySpace.com rival Facebook has been talking with Jung about bringing him on as a CEO, reported PaidContent.org.