CBS AND IBEW REACH EARLY CONTRACT RENEWAL AGREEMENT

NEW YORK - Sept. 20, 2017 - CBS and the International Brotherhood of Electrical Workers (IBEW) announced they have reached an early contract renewal agreement covering 3,500 technicians. The extended contract has been ratified by the affected workforce and will be effective Feb. 1, 2018 through April 30, 2021. The current IBEW agreement was scheduled to expire on Jan. 31, 2018.

Of the deal, International President Lonnie Stephenson stated: The skilled professionals of the IBEW are proud of our partnership with CBS, and this agreement reflects our joint commitment to good jobs and broadcasting excellence.

We are very pleased to have reached this new agreement ahead of schedule, said Leslie Moonves, Chairman and CEO, CBS Corporation. Our new deal is indicative of the terrific working relationship and cooperation between CBS and the IBEW as well as our ongoing commitment to its highly skilled technicians.

Major provisions of the new, multi-year contract include pay increases, increased benefit contributions and a path forward for new media.

The IBEW represents CBS workers in New York, Chicago, Los Angeles, Washington, D.C., St. Louis, San Francisco, Dallas, Miami and Atlanta, in addition to supplying a skilled workforce for all events televised on CBS Sports and CBS News.

About IBEW:

The International Brotherhood of Electrical Workers (IBEW) represents approximately 725,000 members who work in a wide variety of fields, including construction, utilities, manufacturing, telecommunications, broadcasting, railroads and government.

About CBS Corporation:

CBS Corporation (NYSE: CBS.A and CBS) is a mass media company that creates and distributes industry-leading content across a variety of platforms to audiences around the world. The Company has businesses with origins that date back to the dawn of the broadcasting age as well as new ventures that operate on the leading edge of media. CBS owns the most-watched television network in the U.S. and one of the world's largest libraries of entertainment content, making its brand - the Eye - one of the most recognized in business. The Company's operations span virtually every field of media and entertainment, including cable, publishing, radio, local TV, film, and interactive and socially responsible media. CBS' businesses include CBS Television Network, The CW (a joint venture between CBS Corporation and Warner Bros. Entertainment), CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Consumer Products, CBS Home Entertainment, CBS Interactive, CBS Films, Showtime Networks, CBS Sports Network, Pop (a joint venture between CBS Corporation and Lionsgate), Smithsonian Networks, Simon & Schuster, CBS Television Stations, CBS Radio and CBS EcoMedia. For more information, go to www.cbscorporation.com.

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CBS Press Contact:

Kelli Raftery 212-975-3161 kelli.raftery@cbs.com

IBEW Press Contact:

Mark Brueggenjohann 202-728-6014 Mark_Brueggenjohann@IBEW.org

LINK:	https://www.cbscorporation.com/2017/09/cbs-and-ibew-reach-early-contra...
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