CBS Corporation Makes Strategic Investment In Syncbak
NEW YORK, April 22, 2013 /PRNewswire/ -- CBS Corporation today announced it has made a strategic minority investment in Syncbak, a technology company that affords broadcasters new content distribution opportunities on emerging platforms. Using location-based authentication technology, Syncbak enables local television stations to stream their signal to in-market consumers. In doing so, Syncbak offers broadcast networks a seamless solution to replicate existing national, local and affiliate partnerships on the Internet and mobile devices. CBS expects to work closely with its owned and affiliated television stations as well as advertisers, rights holders, cable, satellite and telco partners in the coming months and years as Syncbak becomes fully activated and deployed. At the same time, Syncbak will continue to offer its platform to other broadcast networks and their station groups.
"We have admired and worked with Syncbak's CEO Jack Perry since the mid-'90s," said Martin D. Franks, Executive Vice President, Planning, Policy and Government Affairs, CBS Corporation. "As an executive, he's as knowledgeable about emerging technologies as he is about broadcasting. Over the last couple years, we have worked with Jack as he developed Syncbak's very elegant technology platform, which presents several interesting opportunities for broadcast networks, their stations and affiliates. We look forward to collaborating with him as we move the initiative forward."
"Across the country broadcasters are looking for the best way to respond to consumer demand for streaming their content," said Jack Perry, CEO of Syncbak. "Syncbak's technology provides the right solution at the right time to make that happen. I am particularly pleased that CBS has recognized the role that Syncbak can play as the broadcast model continues to evolve."
Syncbak's technology is currently being tested by more than 100 television stations in 70 markets across 31 broadcast groups representing all major networks, including CBS, ABC, FOX, NBC and The CW. Additional strategic investors of Syncbak include the National Association of Broadcasters and the Consumer Electronics Association.
About CBS Corporation
CBS Corporation (NYSE: CBS.A and CBS) is a mass media company that creates and distributes industry-leading content across a variety of platforms to audiences around the world. The Company has businesses with origins that date back to the dawn of the broadcasting age as well as new ventures that operate on the leading edge of media. CBS owns the most-watched television network in the U.S. and one of the world's largest libraries of entertainment content, making its brand – "the Eye" – one of the most recognized in business. The Company's operations span virtually every field of media and entertainment, including cable, publishing, radio, local TV, film, outdoor advertising, and interactive and socially responsible media. CBS's businesses include CBS Television Network, The CW (a joint venture between CBS Corporation and Warner Bros. Entertainment), Showtime Networks, CBS Sports Network, Smithsonian Networks, Simon & Schuster, CBS Television Stations, CBS Radio, CBS Outdoor, CBS Television Studios, CBS Global Distribution Group, CBS Interactive, CBS Consumer Products, CBS Home Entertainment, CBS Films and CBS EcoMedia. For more information, go to www.cbscorporation.com.
When fully activated and deployed, the Syncbak app, available via the App Store and Google Play, will allow users to watch live, in-market broadcast TV on Apple and Android smart phones and tablets. Syncbak's technology "localizes the internet" for broadcasters, networks and entertainment studios, enabling retransmission of live television over the internet in much the same way it works over cable and satellite and telcos. Syncbak was founded in 2009 by Jack Perry. For more information, go to Syncbak.com.
SOURCE CBS Corporation