HULU INKS AGREEMENT WITH CBS CORPORATION TO ADD LEADING NETWORKS TO UPCOMING LIVE TV SERVICE

CBS Corp. Joins 21st Century Fox, The Walt Disney Company and Turner Networks In Hulu's New Live TV Offering

SANTA MONICA, CA (January 4, 2016) Hulu today announced a comprehensive, new agreement with CBS Corporation to carry America's most-watched broadcast network, CBS, as well as popular sports and entertainment channels CBS Sports Network and POP, with the potential to add additional networks in the future. All networks in the deal will be available to stream live, with much of their programming available on-demand as well, through Hulu's new multichannel, live TV streaming service, set to launch in the coming months.

With the addition of the CBS channels, subscribers to Hulu's new live service will have access to popular programming, including Big Bang Theory, NCIS, Big Brother, Blue Bloods and 60 Minutes, both live and on-demand.

CBS's preeminent sports programming, including the NFL on CBS (all preseason, regular and post-season games broadcast on CBS) and the NCAA DIVISION I MEN'S BASKETBALL CHAMPIONSHIP will also be offered on the new service, as well as news programming and specials, CBS's leading late night shows and major annual live events such as The GRAMMYs(R). In addition, the new deal extends Showtime Networks' existing deal with Hulu in which SHOWTIME is offered as a premium subscription service to those customers who subscribe to Hulu's live or SVOD service.

"To build a successful live TV service, you have to have viewers' favorite sports and shows -- and CBS' programming is absolutely vital to that mix," said Mike Hopkins, CEO of Hulu. "With 21st Century Fox, Disney, Turner and now CBS on board, our new live service will offer one of the most valuable sports, news and entertainment lineups anywhere - from ESPN, Fox Sports, CBS Sports and TNT to ABC, CBS, FOX and The Disney Channel."

"We are very pleased to make CBS available on Hulu's new live TV service," said Ray Hopkins, President, Television Networks Distribution, CBS Corporation. "Hulu has made it clear that it understands the value that the CBS Television Network, along with Showtime and our basic cable network portfolio, will bring to this new offering. In addition, today's announcement represents another significant step in our strategy to deliver CBS's industry leading content to viewers whenever and where ever they want to watch it, at terms that are consistent with the Company's goals."

The CBS deal follows Hulu's recently announced agreements with 21st Century Fox and The Walt Disney Company, which encompassed more than 35 top networks, including broadcast networks FOX and ABC; Fox Sports networks such as the Fox Sports 1, Fox Sports 2 and BTN; ESPN, ESPN2, ESPNU, ESPN-SEC and ESPN 3; Fox Regional Sports Networks across dozens of key national markets; Disney Channel, Disney XD and Disney Junior; Fox News and Fox Business; Freeform; FX, FXX and FXM; and National Geographic and Nat Geo Wild.

Earlier this year, Hulu announced an affiliate agreement with Time Warner Inc. for live and on-demand streaming of Turner's suite of popular entertainment, sports, news and kids' networks including TNT, TBS, CNN, Cartoon Network, Adult Swim, truTV, Boomerang and Turner Classic Movies.

As a complement to the company's current ad-supported and ad-free subscription video on demand products, Hulu's new service will offer subscribers the most valuable, premium live TV offering on the market in a groundbreaking, new user experience. With no set-up costs or installation, it will feature an easy-to-use, intuitive and personalized interface, that brings together live and on-demand news, entertainment and sports, all in one place, across hundreds of living room and mobile devices.

About Hulu

Hulu is a premium streaming TV destination that offers hundreds of thousands of hours of the best of current season programming, premium original content, films and full seasons of hit series to subscribers with limited commercials for $7.99 per month or commercial free for $11.99 per month. Hulu is the only streaming subscription service that offers current season programming from top U.S. broadcast networks the day after new episodes air, as well as acclaimed Hulu Originals including The Mindy Project, The Path, 11.22.63, Difficult People and the Golden Globe(R) nominated comedy series, Casual. Since its launch in 2008, Hulu has been at the forefront of entertainment and technology and continues to redefine TV by connecting viewers with the stories they love.

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.