Oct 09 2009

Cablevision And CBS Corporation Reach Comprehensive Content Carriage Agreement

Cablevision (NYSE: CVC) and CBS Corporation (NYSE: CBS.A and CBS) today announced a comprehensive content carriage agreement under which Cablevision will continue to carry CBS programming and offer Showtime Networks’ programming to Cablevision’s three million subscribers in New York, New Jersey and Connecticut. In the New York metropolitan market, Cablevision will continue to carry WCBS2. Its customers in central and southern New Jerseywill receive Philadelphia’s KYW (CBS) and WPSG (CW).

In addition, the agreement provides for continued carriage of CBS College Sports Network and the Smithsonian Channel, which offers viewers original programming highlighting America’s historical, cultural and scientific heritage, will be added to the iO Gold digital premium package.

Terms of the deal were not disclosed.

“We are extremely pleased to enter into this comprehensive carriage agreement with Cablevision,” said Leslie Moonves, President and CEO, CBS Corporation. “It assures that Cablevision’s customers will continue to enjoy CBS and Showtime content for years to come.”

Cablevision is happy with the outcome of this agreement and we look forward to an expanded relationship with the CBS Corporation,” said Tom Rutledge, Chief Operating Officer, Cablevision Systems Corp.

About Cablevision

Cablevision Systems Corporation is one of the nation’s leading media and entertainment companies. Its cable television operations serve more than 3 million households in the New York metropolitan area. The company’s advanced telecommunications offerings include its iO TV® digital television, Optimum Online® high-speed Internet, Optimum Voice® digital voice-over-cable, and its Optimum Lightpath integrated business communications services. Cablevision operates several successful programming businesses, including AMC, IFC, Sundance Channel and WE tv, through Rainbow Media Holdings LLC, and serves the New Yorkarea as publisher of Newsday and other niche publications through Newsday Media Group. In addition to these businesses, Cablevision owns Madison Square Garden and its sports teams, the New York Knicks, Rangers and Liberty. The company also operates New York’s famedRadio City Music Hall, the Beacon Theatre, and the Chicago Theatre, and owns and operates Clearview Cinemas.

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 Television Studios, CBS Studios International 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) and motion pictures (CBS Films). For more information, log on to www.cbscorporation.com.