YAHOO! NEWS AND CBS TELEVISION STATIONS FORM EXCLUSIVE PARTNERSHIP TO DELIVER LOCAL NEWS VIDEO
NEW YORK & SANTA MONICA, Calif., October 16, 2006 -- CBS Television Stations, a division of CBS Corporation (NYSE: CBS and CBS.A) and Yahoo! Inc. (Nasdaq: YHOO) today announced an exclusive video syndication agreement in which local news video from 16 of CBS's owned stations will be made available on Yahoo! to the Internet's largest news audience. The relationship, which begins tomorrow, marks the first video agreement between a network-owned television station group and an Internet news provider. CBS and Yahoo will share revenue from advertising sold adjacent to CBS Stations' content on the site
"Local news has become one of the most important pieces of a user's online news experience, and this agreement brings some of the best local TV journalism to the millions of Yahoo! News users," said Scott Moore, head of news and information, Yahoo! Media Group. "One of our key priorities is to offer our users relevant and high-quality local news in each market, and with CBS we've found a partner that deeply understands the issues most important to the communities they cover."
Yahoo! News users will have access to 10 to 20 local news video stories per day, from each of the 16 markets. The video includes breaking news stories, as well as other locally-focused features and reports.
"This is the first of its kind for a local TV station group - our local TV station video will now be available to millions of Yahoo! News' users everyday, providing them with our CBS Station's extraordinary local news coverage from every one of our markets," said Jonathan Leess, President, CBS Television Stations Digital Media Group. "Finding new platforms to distribute and monetize our industry-leading content has always been a core strategic initiative of our company, and this deal accomplishes both."
Yahoo! will highlight the local video to users who select a city or zip code within a CBS owned station market. The video will be station-branded and can be found on the Yahoo! homepage (http://yahoo.com) and throughout Yahoo! News. On Yahoo!'s local news pages, video will also include links to the station's website where users can view additional local video and stories.
Yahoo! News has exclusivity among major news website aggregators to the CBS Television Stations video content, and CBS will be the exclusive provider of local news video from their markets to Yahoo! News. The agreement covers 16 of CBS's owned stations that are part of the CBS Television Network and have local news operations, including:
About Yahoo! News
Yahoo! News (http://news.yahoo.com) is the Internet's most popular destination for news and information. Offering consumers news from dozens of leading news organizations, and a News Search tool that searches thousands of news sources, Yahoo! News is a leading platform for breaking news, offering up-to-the-minute access to every important story happening. Yahoo! News is part of the globally branded Yahoo! network that reaches hundreds of millions of unique visitors each month.
Yahoo! Inc. is a leading global internet brand and one of the most trafficked Internet destinations worldwide. Yahoo! seeks to provide online products and services essential to users' lives, and offers a full range of tools and marketing solutions for businesses to connect with Internet users around the world. Yahoo! is headquartered in Sunnyvale, California.
About CBS Television Stations
CBS Television Stations (http://www.cbslocal.com/) consists of 39 stations, including 21 CBS, 11 The CW, three MyNetworkTV and four independent stations not affiliated with major networks. The division is part of CBS Corporation (NYSE: CBS.A and CBS), 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 The CW - a joint venture between CBS Corporation and Warner Bros. Entertainment), cable television (Showtime and CSTV Networks), local television (CBS Television Stations), television production and syndication (CBS Paramount Network Television and CBS Television Distribution Group), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), digital media (CBS Digital Media Group and CSTV Networks) and consumer products (CBS Consumer Products). For more information, log on to http://www.cbscorporation.com/.