Verizon signs retransmission deal with CBS for company’s new TV service
NEW YORK – Verizon Communications Inc. and CBS Corp. said Monday that the companies reached a deal for Verizon to carry CBS programming on its new television service.The companies, which didn’t disclose terms of the agreement, said the deal includes video-on-demand content, such as popular network series “CSI” and “Survivor.”Verizon will offer the programming on its new FiOS TV service, which is now available in seven states – Texas, Florida, California, Virginia, Maryland, New York and Massachusetts. The company’s general package includes 180 channels for $34.95 a month.All FiOS TV subscribers with a set-top box will receive CBS on-demand content at no incremental cost.”With each subscriber that Verizon’s FiOS TV adds, CBS will directly benefit, and therefore, we look forward to our partnership as Verizon showcases our programming both in our (owned-and-operated) markets and across the country,” CBS Chief Executive Leslie Moonves said in a statement.Verizon Chairman and CEO Ivan Seidenberg, in the same statement, said the deal expands the market for both companies.”For us, it means we can offer our customers the tremendously valuable content provided by the CBS Television Network and local broadcast stations,” Seidenberg said.Verizon said its deal with CBS is its largest such agreement. Prior to the deal, Verizon provided programming from the CBS owned-and-operated stations under a special agreement with CBS.CBS class B shares fell 17 cents to $24.45 in afternoon trading on the New York Stock Exchange.Verizon shares traded at $34.43, up 2 cents on the Big Board.
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