NEW YORK, June 12, 2017 /PRNewswire/ -- CBS
Corporation (NYSE: CBS.A and CBS) and Sinclair Broadcast Group,
Inc. (NASDAQ: SBGI) today announced a multi-year deal that renews
station affiliation agreements for four of its owned or operated
stations, including KUTV in Salt Lake
City, Utah; KEYE in Austin,
Texas; WSBT in South Bend,
Ind.; and WGFL in Gainesville,
Fla. The four renewed markets serve more than two million
households.
The new deal also includes the renewal of participation in
CBS All Access, the CBS Television Network's subscription
video on demand and live-streaming service, plus a commitment to
distribution of Sinclair's CBS affiliates via the new YouTubeTV
live television service in markets where the offering is available.
In addition, the companies agreed to assign Tribune's CBS
affiliation agreements to Sinclair upon planned closing of the
merger.
"We are pleased we have reached this agreement with our longtime
and valued partner, Sinclair," said Ray
Hopkins, President of Network Distribution for the CBS
Television Network. "In renewing this deal, it is clear that
Sinclair recognizes the value that the most watched Network's
popular programming brings to the viewers in each market and to
their business as a whole."
"We share CBS' enthusiasm for the renewal of these affiliation
agreements and the other aspects of this deal," said Barry Faber, Sinclair's Executive Vice President
for Distribution and Network Relations. "We believe that the
network-affiliate model provides great benefits to both parties and
are pleased to have the value of this symbiotic relationship
continued to be reflected in our relationship."
Sinclair's CBS affiliates cover 8% of the U.S. and serve more
than nine million households. Sinclair owns or operates CBS
Affiliates in 24 Markets, including the four listed above.
About CBS Corporation
CBS Corporation (NYSE: CBS.A and
CBS) is a mass media company that creates and distributes
industry-leading content across a variety of platforms to audiences
around the world. The Company has businesses with origins that date
back to the dawn of the broadcasting age as well as new ventures
that operate on the leading edge of media. CBS owns the
most-watched television network in the U.S. and one of the world's
largest libraries of entertainment content, making its brand — "the
Eye" — one of the most recognized in business. The Company's
operations span virtually every field of media and entertainment,
including cable, publishing, radio, local TV, film, and interactive
and socially responsible media. CBS's businesses include CBS
Television Network, The CW (a joint venture between CBS Corporation
and Warner Bros. Entertainment), CBS Television Studios, CBS
Studios International, CBS Television Distribution, CBS Consumer
Products, CBS Home Entertainment, CBS Interactive, CBS Films,
Showtime Networks, CBS Sports Network, Pop (a joint venture between
CBS Corporation and Lionsgate), Smithsonian Networks, Simon &
Schuster, CBS Television Stations, CBS Radio and CBS EcoMedia. For
more information, go to www.cbscorporation.com.
About Sinclair Broadcast Group, Inc.
Sinclair is
one of the largest and most diversified television broadcasting
companies in the country. Pro forma for all pending and previously
announced transactions, the Company will own, operate and/or
provide services to 233 television stations in 108 markets.
The Company has multiple emerging networks as well as being
affiliated with all the major networks. Sinclair is a leading local
news provider in the country and a producer of live sports content.
Sinclair's content is delivered via multiple-platforms, including
over-the-air, multi-channel video program distributors, and digital
platforms. The Company regularly uses its website as a key source
of Company information which can be accessed at www.sbgi.net.
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SOURCE CBS Corporation