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CBS Plans New Feature Film Division

CBS has recurited former Paramount executive Bruce Tobey as chief operating officer of newly dubbed CBS Feature Films, with a CEO expected to be hired within the next few months.

CBS Corp. head Les Moonves told investors earlier this week that hires were imminent for the new theatrical film division, which will produce and distribute four to six theatrical films per year in the $10 million-$40 million range.It is eventually expected to become a primary supplier for the company’s Showtime pay cable label. 
Tobey will oversee financial, legal, business affairs and home video, and have a say in hiring decisions.
From 2001-05, when new chairman Brad Gray overhauled the studio, he was executive VP of the Paramount motion picture group. There, he oversaw business, legal and administrative functions, including rights and financing pacts.A film consultant the past few years, Tobey had also previously been executive VP of Viacom Entertainment Group, which included the network production unit and UPN.

CBS, which split off from Viacom a year ago, has been asserting its brand, including launching

a new online record label late last year.