CBS NEWS AND TOKYO BROADCASTING SYSTEM SIGN MULTI-YEAR RENEWAL FOR SHARED NEWS SERVICES
December 6, 2011, New York, NY – CBS News and Tokyo Broadcasting System Television, Inc. (TBS) announced today a 10-year renewal of their agreement for shared news services between the two companies. The joint announcement was formalized today in a signing ceremony at CBS in New York with Jeffrey Fager, Chairman, CBS News and Executive Producer of 60 Minutes, Armando Nuñez, President, CBS Studios International, Hiroshi Inoue, Chairman, TBS Holdings and TBS Television and Makoto Hoshino, President, TBS News.
The agreement will continue the sharing of news materials and programs, newsgathering and transmission facilities on a priority basis, which includes both SNG trucks and satellite transponders. News bureaus in Tokyo and New York will continue to be shared.
This new agreement builds on an exclusive agreement between TBS and CBS that has been in effect since 1991. In addition to shared news services, TBS and CBS will work to expand their relationship around the world and develop strategic partnerships in the digital media space.
"This is a powerful partnership that adds significantly to the ability of both organizations in covering global events,” Mr. Fager remarked. “It is exciting that, because of this new agreement, we will be working together for many years to come.”
Mr. Nuñez commented, "We greatly value our long term relationship with TBS. At a time when our industry is rapidly evolving, it is exciting and mutually beneficial for our companies to expand the scope of this global strategic partnership."
“The meaning of our partnership with CBS is becoming even more significant to TBS, as the world of visual media becomes increasing diversified and international,” Mr. Inoue stated. “Under this renewed agreement, our relationship will develop further to a new level as our cooperation expands in a variety of new areas.”
Mr. Hoshino said, “The agreement with CBS is a very important factor in the international strategy of TBS News. From now on, TBS and CBS will continue to work together on a global scale and we can build an even stronger strategic partnership by taking advantage of each company’s strengths. We are going to make every effort to produce even more valuable news coverage for our audiences in both countries.”
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