On the way to being up 30% over the last year, shares in CBS (CBS) took a break in early March and slipped. But, after a slow week, they pushed back up again. And, the short interest in the company fell, from 63.9 million in March to 55.5 million in April.

After watching News Corp (NWS) and Disney (DIS) make many of the right moves to get programming onto the internet and digital devices, CBS has launched its own interactive operation and seems to be taking the new world seriously. CBS also cut a deal to run some of its video content on Google’s (GOOG) YouTube.

CBS may be late to the digital market, but at least it showed up.

Douglas A. McIntyre