CBS, Verizon Renew Carriage, Retransmission Deals

CBS CEO Leslie Moonves

The multiyear content agreement covers CBS-owned TV stations and cable networks Showtime, Smithsonian Channel and CBS Sports Network.

CBS Corp., led by CEO Leslie Moonves, has reached a multiyear carriage deal with Verizon that includes retransmission consent revenues for CBS-owned TV stations and The CW affiliates.

Terms of the new carriage and retransmission agreements weren't disclosed, but they include Verizon distributing Showtime, Smithsonian Channel and CBS Sports Network on its Fios TV offering.

CBS has stepped up its pursuit of retransmission consent revenues to complement TV ad sales. The agreements also cover current and future digital platforms, including allowing Verizon Fios’ TV customers to stream CBS live online and on mobile devices.

"The renewal of our Fios content carriage agreement for various CBS networks and our expanded rights for future digital platforms is in line with our company’s strategy to deliver industry-leading content to viewers across multiple platforms and screens, while also achieving both our short- and long-term economic goals," Ray Hopkins, president, television networks distribution at CBS Corp., said Wednesday in a statement.

"Providing customers with choice remains at the core of all of our video offerings, and this agreement with CBS fits squarely into our strategy of expanding rights to fill out our emerging vertically integrated media portfolio," Brian Angiolet, senior vp product and new business at Verizon, said in his own statement.