DIRECTV and CBS Corporation Reach New Long-Term Content Carriage Agreements

NEW YORK and EL SEGUNDO, Calif., Oct. 9, 2012 /PRNewswire/ -- DIRECTV (NASDAQ: DTV), one of the world's leading providers of digital entertainment services, and CBS Corporation (NYSE: CBS.A and CBS), one of the world's leading content providers, today announced renewal of their content carriage agreements. Financial terms were not disclosed.

The long-term deal covers retransmission consent for CBS owned stations and continued carriage of Showtime, CBS Sports Network, and Smithsonian Channel.

"We are very pleased with these renewals," said Martin Franks, Executive Vice President for Planning, Policy and Government Relations, CBS Corporation.  "DIRECTV clearly recognizes the value our stations and our cable channels bring to the audiences we share, and we have once again demonstrated how two great companies can come together to forge mutually beneficial free market agreements."

"This is great news for our customers, who will continue to enjoy CBS and Showtime quality content for many years to come," said Derek Chang, Executive Vice President, Content Strategy and Development, DIRECTV.  "CBS and DIRECTV both recognize the interests of our customers are best served when we can privately work together as true programming partners and responsibly work out an agreement that is fair for everyone."

About DIRECTV:

DIRECTV (NASDAQ: DTV) is one of the world's leading providers of digital television entertainment services delivering a premium video experience through state-of-the-art technology, unmatched programming and industry leading customer service to 33 million customers in the U.S. and Latin America. In the U.S., DIRECTV offers its 19.9 million customers access to more than 170 HD channels and Dolby-Digital® 5.1 theater-quality sound, access to exclusive sports programming such as NFL SUNDAY TICKET™, Emmy-award winning technology and higher customer satisfaction than the leading cable companies for 11 years running. DIRECTV Latin America, through its subsidiaries and affiliated companies in Brazil, Mexico, Argentina, Venezuela, Colombia, and other Latin American countries, leads the pay-TV category in technology, programming and service, delivering an unrivaled digital television experience to more than 13.6 million customers. DIRECTV sports and entertainment properties include three Regional Sports Networks (Northwest, Rocky Mountain and Pittsburgh) as well as a 60 percent interest in Game Show Network. For the most up-to-date information on DIRECTV, please visit www.directv.com.

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 Studios International, CBS Television Distribution, CBS Interactive, CBS Consumer Products, CBS Home Entertainment, CBS Films and CBS EcoMedia. For more information, go to www.cbscorporation.com. 

SOURCE CBS Corporation