CBS AND MEREDI ANNOUNCE AFFILIATION RENEWALS AND DIGITAL DISTRIBUTION DEAL

Agreement Extends Affiliation for Four CBS Affiliated Television Stations Owned and Operated by Meredith in Atlanta, Phoenix, Kansas City and Flint

All Seven of Meredith's CBS Affiliates Renew for Local Live Streams on CBS All Access and Commit to Hulu Live Multi-channel Digital Service and Certain Future Digital Distribution Deals

NEW YORK, N.Y. - Jan. 24, 2017 - CBS Corporation (NYSE: CBS.A and CBS) and Meredith Corporation (NYSE: MDP) today announced a long-term deal that renews station affiliation agreements for four of its owned-and-operated stations, including WGCL in Atlanta, Ga.; KPHO in Phoenix, Ariz.; KCTV in Kansas City, Mo.; and WNEM in Flint, Mich. The four markets renewed serve more than 5.5 million households.

The new deal also includes the renewal of participation in CBS All Access, the CBS Television Network's digital subscription video on demand and Nielsen-measured live streaming service, plus a commitment to distribution via the new Hulu live multi-channel digital television service and participation in certain of the CBS Television Network's future new entrant digital distribution deals by all seven Meredith owned-and-operated CBS affiliates.

Meredith's CBS affiliates cover 7% of the U.S. and serve more than eight million households. In addition to the four listed above, Meredith's CBS affiliates include KMOV in St. Louis, Mo., WFSB in Hartford, Conn. and WSHM in Springfield, Mass. The affiliation agreements for those three stations were renewed last year.

We are a longtime proud partner of Meredith, and this agreement will benefit both companies in the near and long-term, said Ray Hopkins, president of network distribution for the CBS Television Network. We are pleased that in extending this deal and committing to certain new and future digital distribution opportunities, Meredith recognizes the value that CBS' hit programming brings to their business and, most importantly, the viewers in each market.

Commenting on the agreement, Paul Karpowicz, the president of Meredith's Local Media Group, said, We are happy to extend our affiliation agreement with CBS in these four key markets and further our relationship with CBS on certain digital opportunities.

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's 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.

About Meredith Corporation

Meredith Corporation (NYSE: MDP; www.meredith.com) has been committed to service journalism for 115 years. Today, Meredith uses multiple distribution platforms - including broadcast television, print, digital, mobile and video - to provide consumers with content they desire and to deliver the messages of its advertising and marketing partners.

Meredith's Local Media Group includes 17 owned or operated television stations reaching 11 percent of U.S. households. Meredith's portfolio is concentrated in large, fast-growing markets, with seven stations in the nation's Top 25 - including Atlanta, Phoenix, St. Louis and Portland - and 13 in Top 50 markets. Meredith's stations produce 700 hours of local news and entertainment content each week, and operate leading local digital destinations.

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Media Contacts

CBS Corporation

Kelli Raftery kelli.raftery@cbs.com

Meredith Corporation

Art Slusark, Art.Slusark@meredith.com

LINK:	http://www.cbscorporation.com/2017/01/cbs-and-meredith-announce-affili...
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