CBS, Altice USA Reach New Carriage Deal
CBS, led by acting CEO Joseph Ianniello, managed to hammer out a renewal deal without a carriage impasse as pressures on the traditional cable bundle mount.
CBS Corp. and Altice USA on Monday said they renewed their multiyear content carriage agreement.
Financial terms were not disclosed, but the new deal covers retransmission consent payments for CBS-owned stations and the carriage of Showtime, CBS Sports Network, Pop TV and Smithsonian Channel on Altice's Optimum and Suddenlink cable systems.
The Altice USA deal follows CBS stations going dark on AT&T's DirecTV and U-Verse platforms after the two sides failed to come to terms on a new carriage agreement, as both sides continue crunch talks. The CBS agreement also allows Altice USA to continue streaming the Showtime digital service to its broadband customers.
CBS and Altice USA managed to secure their renewal deal without the need for a carriage impasse increasingly common in the U.S. cable industry as cost pressures on the traditional TV bundle from cord-cutting and streaming competition mount.
"We are pleased to strike a fair marketplace deal with Altice for CBS, Showtime, CBS Sports Network, Pop TV and Smithsonian Channel well in advance of our expiration and without any disruption to consumers," Ray Hopkins, president, television networks distribution, CBS Corp. said in a statement.