CBS REACHES CARRIAGE AGREEMENT WITH AFFILIATES FOR CBS ALL ACCESS

Early Deals With Dispatch, Graham Media, Gray, Hearst, Lilly Broadcasting, Meredith, Morgan Murphy, Morris Network, Neuhoff Media, Nexstar, Raycom and Withers, With More to Follow

New Affiliate Partners to Enable Live Streaming of Their Stations Through CBS's Direct-to-Consumer Subscription Service, Bringing Live Linear Feed to 56 Markets Covering 55 Percent of the U.S.

NEW YORK, N.Y. - April 9, 2015 - CBS Corporation today announced its digital subscription, video on demand and Nielsen-measured live streaming service, CBS All Access, has reached an agreement with the CBS Affiliate Board and has secured early deals with a number of affiliate partners, including Dispatch, Graham Media, Gray, Hearst, Lilly Broadcasting, Meredith, Morgan Murphy, Morris Network, Neuhoff Media, Nexstar, Raycom and Withers, with more to come. The live linear feeds in many of the markets represented by these 12 affiliate groups will begin rolling out this month.

The addition of these affiliate partners - which collectively represent 56 markets nationwide - to the 14 owned-and-operated CBS stations that participated in CBS All Access' October launch brings the live linear feed coverage of CBS All Access to 55 percent of U.S. households. The 14 CBS owned stations include major markets such as New York, Los Angeles and Chicago. The new markets to be added include Atlanta, Phoenix, Orlando, Cleveland, Columbus, St. Louis, Charlotte, Hartford, Kansas City and Las Vegas.

"This is another key step in the Company's long-standing strategy to grow our business in a way that complements our existing ecosystem," said Leslie Moonves, President and CEO, CBS Corporation. "Adding CBS affiliates to the mix will give viewers the opportunity to watch more CBS programming whenever they want on whichever device they choose. We look forward to adding more affiliate partners to build CBS All Access nationwide."

Michael Fiorile, Vice Chair and CEO of Dispatch Broadcast and Chairman of the CBS Affiliates Board, added, "We are excited to have in place a groundbreaking agreement which begins a new era in distribution for CBS affiliates. CBS All Access is designed to take advantage of the growth in place-shifting by giving our viewers the utmost ease of accessibility to their favorite local programming. We see it as an opportunity to expand our reach to consumers by delivering our stations anywhere and anytime our viewers want to watch."

While specific terms of the agreement were not disclosed, each affiliate partner will participate in a revenue-share and will also benefit by having live viewership in their markets applied to their Nielsen rating.

The ability to live stream local CBS stations through CBS All Access is made available through Syncbak, in which CBS has a minority investment. Syncbak powers the delivery and geo-targeting of the live feeds to in-market subscribers.

In the markets that do not yet offer live-streaming of their local CBS station, CBS All Access subscribers still have access to nearly 7,000 episodes on-demand via the CBS App for iOS and Android, on CBS All Access' Roku channel and online at CBS.com, with additional connected devices being added in the coming months. CBS All Access' on-demand offering includes episodes from the current season - including full current seasons of 16 primetime shows with episodes available after they air - as well as previous seasons and classic shows.

For more information on CBS All Access, visit http://www.cbs.com/allaccess.

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 Global Distribution Group (CBS Studios International and 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 CBS Interactive

CBS Interactive, a division of CBS Corporation, is the premier online content network for information and entertainment. With more than 280 million people visiting its properties each month, CBS Interactive is a top Web property globally. Its portfolio of leading brands, which include CBS.com, CNET, CBS.com, CBSNews.com, CBSSports.com, TVGuide.com, GameSpot, TV.com and Last.fm, span popular categories like technology, entertainment, sports, news and gaming. Follow CBS Interactive on Twitter: twitter.com/cbsi and on Facebook.

About Syncbak

Syncbak is a media technology company serving US television broadcasters with products and services that enable distribution of live content on connected devices. The company's one-of-kind platform leverages the benefits of territorial exclusivity and the Internet to enable location-based distribution of broadcast content. Syncbak was founded in 2009 by Jack Perry. Its investors include CBS, the National Association of Broadcasters, the Consumer Electronics Association and other private investors. For more information, visit www.syncbak.com.