Media giant CBS, perhaps taking cues from the embattled print media, is looking to expand digitally and internationally. Broadband is the medium where both moves are possible simultaneously. CBS Radio, for instance, has been pushing against the terrestrial downtrend, embracing new technologies. And CBS Corp Chief Executive Les Moonves said yesterday at the McGraw-Hill Media Summit in New York City that his company plans to expand the ten percent of the business that it does overseas. ''We're much more domestic,'' Moonves said at the conference, according to Reuters. ''We'd like to expand internationally.''

Last.fm, the CBS Corporation-owned social music web site, is trying to capture domestic market share. ''Conquering the U.S. market is a crucial step in growing Last.fm, and we are very heartened by the overwhelming response,'' said Martin Stiksel, co- founder of the site, in a press release today.

CBS is also banking on their fifth annual March Madness NCAA men's basketball tournament (Thank you, Larry Kramer) next week for serendipitous ad monies. From Phil Rosenthal of The Chicago Tribune:

''The first year CBS made $250,000 in advertising with this great workplace distraction. The next year it was $4 million and last year $10 million. The projection for this year, Moonves said Thursday at the McGraw-Hill Media Summit in New York, according to various accounts, is around $23 million.

'''It's new revenue from content that we already have,' Moonves said at the summit. 'It drops right to the bottom line.'''

Last week CBS Radio announced that they will CBS Radio will unveil a ''brand new state of the art player'' to compete with iPods, satellite radio and other similar devices in the spring.