CBS Corporation CBS
and Verizon Communications Inc. VZ have reached a new agreement for
continued retransmission of CBS owned stations and wider distribution of CBS
Sports Network on Verizon's FIOS TV in multiple markets across the country, it
was announced today by both companies. Terms of the agreement were not
disclosed.
"We are very pleased to reach this agreement with Verizon and its FIOS
service," said Ray Hopkins, President, Television Networks Distribution, CBS
Corporation. "This deal was reached in a short period of time, and CBS has
once again achieved fair value for our over-the-air rights. Verizon is a
distribution partner of growing importance to us that provides excellent
service to its expanding number of subscribers, and we are glad that this
partnership will continue and grow."
"We've reached this agreement in partnership with CBS for our customers, so
that they may continue to enjoy CBS content on FiOS," said Terry Denson, Vice
President of Video Content and Strategy at Verizon. "Verizon continues to
address areas of change where necessary in current policies to better reflect
the interests of consumers."
As part of the agreement, CBS owned stations in various Verizon markets
including New York, Los Angeles and Dallas, will continue to be distributed to
FiOS TV subscribers. This includes all of the approximately 3.5 million
subscribers served in markets where CBS owns television stations. (FiOS has
approximately 5 million subscribers in total.) FiOS TV will also continue to
provide – free to the viewer – CBS programming via Verizon's industry-leading
video on demand services to all subscribers.
In addition, the CBS Sports Network will dramatically increase its
distribution with FiOS. Separately, CBS and Verizon have an existing agreement
for FiOS to carry Showtime Networks and Smithsonian that will continue in the
years to come as well.
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