Time Warner Cable and CBS Corporation Reach Comprehensive Retransmission Consent and Program Carriage Agreement

Early Deal Reached to Continue to Provide CBS and Showtime Programming On Time Warner Cable Enhanced Video Services

NEW YORK, Jan. 6 /PRNewswire-FirstCall/ — Time Warner Cable (NYSE: TWC) and CBS Corporation (NYSE: CBS.A and CBS) today announced a comprehensive program carriage agreement under which Time Warner Cable has extended retransmission consent for CBS’s owned and operated television stations and extended its carriage of Showtime Networks’ programming through 2013.

In addition, selected CBS and Showtime programming will participate in Time Warner Cable’s enhanced video services including Start Over and Look Back, as well as extensive video on demand offerings, including prime time programming from CBS.

“We are extremely pleased to have reached this agreement which recognizes the value of our programming to Time Warner Cable and its subscribers,” said Leslie Moonves, President and CEO, CBS Corporation. “The CBS Television Network and Showtime are an essential component of any meaningful programming lineup. We are pleased that Time Warner Cable and its subscribers will continue to enjoy our programming for many years to come.”

Added Melinda Witmer, EVP and Chief Programming Officer for Time Warner Cable: “We are glad that we were able to reach an early renewal of our agreement with CBS and extend our relationship with Showtime. This new arrangement represents an exciting expansion of our relationship with the CBS Corporation.”

Other terms of the agreement were not disclosed.

About CBS Corporation

CBS Corporation is 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 Networks and CBS College Sports Network), local television (CBS Television Stations), television production and syndication

(CBS Paramount Network Television and CBS Television Distribution), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), interactive media (CBS Interactive), music (CBS Records), licensing and merchandising (CBS Consumer Products), video/DVD (CBS Home Entertainment), in-store media (CBS Outernet) and motion pictures (CBS Films). For more information, log on to www.cbscorporation.com.

About Time Warner Cable

Time Warner Cable is the second-largest cable operator in the U.S., with technologically advanced, well-clustered systems located mainly in five geographic areas — New York State (including New York City), the Carolinas, Ohio, southern California (including Los Angeles) and Texas. As of September 30, 2008, Time Warner Cable served approximately 14.7 million customers who subscribed to one or more of its video, high-speed data and voice services, representing approximately 34.2 million revenue generating units.

SOURCE CBS Corporation