The next business day after seeing its shares zoom 9% on record quarterly earnings, CBS continues to check boxes, announcing a new multi-year carriage deal with Charter Communications, the No. 2 U.S. cable operator.
Financial terms were not disclosed. Elements in the agreement include retransmission consent for CBS-owned television stations, including CBS-owned affiliates of the CW, plus distribution for Showtime, Smithsonian Channel and CBS Sports Network.
The agreement also includes TV Everywhere and video-on-demand availability of programming from CBS and Showtime to Spectrum subscribers in Charter markets across the country. Charter will also now have rights to live, authenticated streaming on CBS.com, the CBS app and Charter’s authenticated platform, enabling customers to stream CBS programming live online and across multiple devices.
“We are very pleased to extend and expand our partnership with Charter, which clearly recognizes the value CBS’ industry-leading content brings to their viewers throughout the country,” said Joseph Ianniello, Chief Operating Officer, CBS Corp. “This latest deal once again helps us achieve our Company’s economic and strategic goals, while delivering must-have content to viewers live and on demand whenever and wherever they want.”
“We are pleased to have reached this agreement with CBS that reflects the importance and breadth of Charter’s distribution and provides us expanded rights to provide our customers increased access to CBS’ content both inside and, now for the first time, outside the home as well,” said Tom Montemagno, EVP of Programming Acquisition, Charter Communications.
CBS-owned stations in Charter markets, including New York, Los Angeles, Dallas, Boston and Minneapolis-St. Paul, and CBS-owned The CW affiliates in Tampa and Atlanta, will continue to be distributed to Spectrum subscribers, the companies noted.
Merger discussions are continuing between Viacom and CBS, whose upfront presentation and annual shareholder meeting are both scheduled for next week.