CABLEVISION AND CBS REACH NEW COMPREHENSIVE CONTENT CARRIAGE AGREEMENT

Cablevision Is the First CBS Distribution Partner to Announce Plans to Deliver CBS All Access and SHOWTIME Internet Services

Renewal Covers CBS-Owned Stations As Well As SHOWTIME, CBS Sports Network and Smithsonian Channel

BETHPAGE, N.Y. and NEW YORK, N.Y., August 25, 2015 - Cablevision Systems Corporation (NYSE: CVC) and CBS Corporation (NYSE: CBS.A and CBS) today announced a broad-based multi-year content carriage agreement. The new deal covers retransmission consent for CBS-owned stations, and the continued carriage of SHOWTIME(R), CBS Sports Network and Smithsonian Channel(TM). Financial terms were not disclosed.

As part of the new agreement, Cablevision is the first cable or satellite provider to announce plans to distribute CBS All Access and SHOWTIME Internet services to its Optimum Online customers. Pricing plans, timing and other particulars will be provided at a later time.

"This comprehensive new agreement builds on our strong relationship with CBS and ensures that every Optimum customer gets the highly popular CBS content they want across multiple platforms and screens," said Tom Montemagno, executive vice president, programming, Cablevision. "As the first distributor to agree to provide CBS' new Internet services, Cablevision continues to expand its portfolio of next-generation offerings, connecting customers to the programming they value when and where they want it."

"We are pleased with this new agreement that meets all of our economic and strategic goals," said Ray Hopkins, president, television networks distribution, CBS Corporation. "Cablevision has long been a terrific partner and we once again look forward to providing CBS and SHOWTIME programming to the viewers we share for years to come."

Cablevision serves more than 3 million customers in the tri-state area with its Optimum-branded TV, phone and Internet services. Optimum TV offers customers access to hundreds of channels, including more than 80 movie channels; 50 channels of commercial-free digital music; tens of thousands of titles available on demand at all times; an interactive programming guide; more than 160 high-definition channels; and uniquely valuable and relevant local content through News 12 Networks, MSG Varsity and their companion interactive television applications. Optimum Online offers an unparalleled internet experience, including a wide range of high-speed internet product tiers that are designed to provide the right speeds for every type of user as well as access to Optimum WiFi, the nation's most robust WiFi network with more than 1.3 million hotspots across the tri-state area. For more information on Optimum services visit www.optimum.com.

About Cablevision Systems Corporation

Cablevision Systems Corporation is a leading media and telecommunications company, serving millions of households and businesses throughout the greater New York area. Providing quality products that keep customers connected, Cablevision offers Optimum-branded digital cable television, high-speed Internet and voice services as well as Optimum WiFi, the nation's most robust WiFi network. The company recently introduced Freewheel, a new low-cost WiFi-exclusive phone service that provides unlimited data, talk and text. Cablevision's Lightpath subsidiary is a premier provider of integrated business communications solutions for larger companies. Through its local media and programming properties - News 12 Networks and Newsday Media Group - Cablevision also delivers news and information created specifically for the communities it serves. Additional information about Cablevision is available at www.cablevision.com.

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.