News Release

Verizon And CBS Corporation Reach Long-Term Comprehensive Retransmission Consent And Program Carriage Agreements

Verizon Adds Full Episodes of CBS Prime-Time and Daytime Programming to V CAST Video; CBS Television Network Video-on-Demand Content Available in Standard and High Definition and CBS Owned- and Operated-Television Stations Continue on Verizon FiOS TV

January 11, 2009

Debra Lewis
Debra.Lewis@VerizonWireless.com
908-559-7512CBS Corporation:
Dana McClintock
dlmcclintock@cbs.com
212-975-1077

Andrea Prochniak
andrea.prochniak@cbs.com
212-975-0053

NEW YORK, NY — Verizon (NYSE:VZ) and CBS Corporation (NYSE: CBS.A and CBS) today announced comprehensive, new long-term program carriage agreements which bring new and expanded CBS programming to Verizon's television and wireless customers. Verizon has broadened and extended its rights for retransmission consent for CBS's owned and operated television stations, Network and local video-on-demand for the FiOS TV platform as well as mobile rights for Verizon Wireless' V CAST Video service.

"We are extremely pleased to have reached this broad long-term agreement that recognizes the value of our programming," said Leslie Moonves, President and CEO, CBS Corporation. "Verizon subscribers will have continued access to the Number One TV network not only through FiOS TV, but also through V CAST on the mobile phone, which enhances our profile on a key emerging platform."

"Verizon is focused on providing the most comprehensive and exciting entertainment to our customers across all our services and platforms," said John Harrobin, Senior Vice President of Digital Media for Verizon. "We're pleased to extend our relationship with CBS, which helps us deliver the hit shows and compelling content our customers want to enjoy."

Under the new agreement, Verizon has secured Mobile rights for full episodes of several top-rated CBS Entertainment and News programs, including shows from prime-time, daytime and the Number One news program, "60 Minutes." Adding full episodes builds on the CBS content already available to Verizon Wireless V CAST subscribers.

The expanded agreements also provide national video-on-demand rights for programs in both standard and high definition format, including such leading shows as "CSI: Crime Scene Investigation," "NCIS," "Survivor," and "Numb3rs," as well as video-on-demand rights for local news, also in SD and HD.

And, Verizon will continue to offer CBS programming on Verizon FiOS TV, its all-digital fiber-optic TV service, which is available in parts of 14 states, and reaches more than 1.6 million subscribers.

Other terms of the agreement were not disclosed.

About CBS Corporation
CBS Corporation is a mass media company with constituent parts that reach back to the beginnings of the broadcast industry, as well as newer businesses that operate on the leading edge of the media industry. The Company, through its many and varied operations, combines broad reach with well-positioned local businesses, all of which provide it with an extensive distribution network by which it serves audiences and advertisers in all 50 states and key international markets. It has operations in virtually every field of media and entertainment, including broadcast television (CBS and The CW – a joint venture between CBS Corporation and Warner Bros. Entertainment), cable television (Showtime Networks and CBS College Sports Network), local television (CBS Television Stations), television production and syndication (CBS Paramount Network Television and CBS Television Distribution), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), interactive media (CBS Interactive), music (CBS Records), licensing and merchandising (CBS Consumer Products), video/DVD (CBS Home Entertainment), in-store media (CBS Outernet) and motion pictures (CBS Films). For more information, log on to www.cbscorporation.com.

About Verizon
Verizon Communications Inc., headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving nearly 71 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employs a diverse workforce of more than 228,000 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit www.verizon.com.

 

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