CBS Corporation (NYSE: CBS.A and CBS) and Comcast Corporation (Nasdaq: CMCSA, CMCSK) today announced a comprehensive, ten-year agreement that provides for retransmission consent of CBS Television Stations until the year 2020. The long-term, wide-ranging pact also includes carriage of the full suite of Showtime Networks, Comcast’s launch of the Smithsonian Channel and expanded distribution of CBS College Sports. In addition, Comcast will have greatly expanded on-demand access to CBS and SHOWTIME content via their cable and online platforms.
“We are very pleased to have reached a long-term agreement with CBS to distribute its valuable programming across our multiple platforms. Les Moonves has been a real leader as the media industry experiments and moves toward delivering content to customers whenever and wherever they want to watch it. We are proud to partner with CBS as we give our customers the content they love on TV, Video on Demand and online,” said Brian L. Roberts, Chairman and CEO, Comcast Corporation. ”In this time of rapidly changing technology and viewership interest, we were able to structure a deal that gives customers the content they want without any threat of disrupting their service.”
“This agreement demonstrates the enduring value of CBS’s content across our Company,” said Leslie Moonves, President and CEO, CBS Corporation. ”Beyond securing another key retransmission consent agreement for CBS Entertainment, News and Sports programming, it also provides for the long-term future of Showtime Network’s original programming and movies on Comcast’s platform, and expands the reach of our growing College Sports and Smithsonian franchises. This deal could not have happened without the vision of Brian Roberts and Steve Burke. We are very pleased that Comcast has confidence in our ability to deliver premium content to its large and loyal subscriber base. I look forward to all that we will do together—across multiple platforms—to offer the audience we share the viewing experiences they’ve come to expect from our two companies.”