THE CW AND CLEAR CHANNEL TELEVISION ANNOUNCE LONG-TERM AFFILIATION AGREEMENTS

Cincinnati, Salt Lake City And Little Rock Are The Latest Markets To Be Served By The CW

America's Fifth Broadcast Network Increases National Coverage To More Than 83% Of The Country

The CW announced today the signing of long-term affiliation agreements for Clear Channel's (NYSE:CCU) television stations in Cincinnati, Salt Lake City and Little Rock.

The addition of these three Clear Channel stations -- which represent 2.02% of total U.S. television households -- increases The CW's national coverage to more than 83% of the country, including 19 of the Top 20 markets, 26 of the Top 30 and 34 of the Top 40.

The newly signed affiliates are:

* WKRC-DT Cincinnati, OH (DMA rank 34).

* KUWB Salt Lake City, UT (DMA rank 36).

* KASN Little Rock-Pine Bluff, AR (DMA rank 57).

WKRC-DT is the digital station of the CBS affiliate in Cincinnati. KASN is currently a UPN affiliate and KUWB is currently an affiliate of The WB.

"Success in today's marketplace ultimately comes down to good, quality programming," said Don Perry, President and Chief Executive Officer, Clear Channel Television. "By combining the best assets of The WB and UPN with our leading local programming in Cincinnati, Salt Lake City and Little Rock, we are well positioned in each of these markets. Our other television and radio properties will also benefit from the synergistic sales and promotion opportunities that will come with The CW's targeted young adult schedule."

John Maatta, Chief Operating Officer, The CW, said: "Signing long-term affiliation agreements for these three Clear Channel stations is a real coup for The CW because not only do we build on our already solid business relationship with one of broadcasting's most respected and successful station group owners, but we also welcome three that have impressive track records enhancing the popularity and value of their programming through innovative marketing. We're looking forward to working with Don Perry and his very talented colleagues at WKRC-DT, KUWB and KASN."

On January 24, CBS Corporation and Warner Bros. Entertainment announced their intent to form a new 5th network, The CW, to be launched in the fall of 2006. The new broadcasting network will be a joint venture between Warner Bros. Entertainment and CBS Corporation, with each company owning 50%.

In an important strategic move that secures major market distribution for The CW, it was also announced on January 24th that Tribune Broadcasting and the CBS Corporation's UPN affiliates have agreed separately to sign 10-year affiliation agreements with the new network. The combination of Tribune's 16 major market stations (New York, Los Angeles, Chicago, Boston, Dallas, Washington, D.C., Houston, Miami, Denver, St. Louis, Portland, Indianapolis, San Diego, Hartford, New Orleans and Albany) and the 11 CBS-owned UPN major market affiliates (Philadelphia, San Francisco, Atlanta, Detroit, Tampa, Seattle, Sacramento, Pittsburgh, West Palm Beach, Norfolk and Providence) cover the top 13 television markets, 20 of the top 25 television markets and have a total coverage area of more than 47% of the country.

The CW will incorporate The WB's current scheduling model, which consists of a 6 night-13 hour primetime lineup including Monday through Friday nights from 8-10 (EST/PST); Sundays from 7-10 (EST/PST); Sunday from 5-7 (EST/PST) outside of primetime as well as a Monday thru Friday afternoon block from 3-5 (EST/PST) and a 5-hour Saturday morning animation block. Together, the network will program 30 hours a week over seven days for its affiliated stations.

CBS Corporation (NYSE: CBS.A and CBS) 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 UPN), cable television (Showtime and CSTV Networks), local television (CBS Television Stations), television production and syndication (CBS Paramount Television and King World), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), theme parks (Paramount Parks), digital media (CBS Digital Media Group and CSTV Networks) and consumer products (CBS Consumer Products). In Fall 2006, UPN will cease operations and The CW, a new fifth broadcast television network, will launch as a joint venture between Warner Bros. Entertainment and CBS Corporation. For more information, log on to www.cbscorporation.com.

Warner Bros. Entertainment, a fully-integrated, broad-based entertainment company, is a global leader in the creation, production, distribution, licensing and marketing of all forms of entertainment and their related businesses. Warner Bros. Entertainment, a Time Warner Company, stands at the forefront of every aspect of the entertainment industry, from feature films to television, home video/DVD, animation, comic books, interactive entertainment and games, product and brand licensing, international cinemas and broadcasting.

Clear Channel Television owns or operates 42 stations nationwide. They serve in 25 markets from coast to coast and are affiliated with all major networks, in addition to two independents. Full service news departments operate in 24 markets including one in Spanish Language. CCTV works closely with its partners to bring excellence in local broadcasting and to promote community involvement. Clear Channel Television is a division of Clear Channel Communications, Inc. (NYSE:CCU), a leading global media and entertainment company. More information on the company can be found at www.clearchannel.com.