CBS Corporation (NYSE: CBS.A and CBS) announced today that is has entered into a new three-year $2 billion revolving credit facility. The new credit facility replaces the Company’s previous, undrawn, revolving credit facility that was scheduled to expire in December 2010. The new facility will be used to support commercial paper borrowings and for other general corporate purposes.
The arrangement of the credit facility was led by J.P. Morgan Securities Inc. and Citigroup Global Markets Inc.
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.