CBS Signs Distribution Deals With Verizon, Meredith
CBS said it signed new distribution deals that call for growing retransmission payments, reverse compensation from affiliates and new revenue from over-the-top distribution.
Speaking on CBS' fourth quarter earnings call, CEO Les Moonves said CBS had signed a new deal with Verizon covering CBS, Showtime, the CW and other properties.
He said the deal calls for retransmission payments consistent with meeting CBS' target of $2.5 billion in retrans revenue by 2020.
CBS also signed a new affiliation deal with Meredith, one of its biggest affiliate groups. The deal calls for reverse compensation payments to the network. It also cuts Meredith in on CBS All Access, which is providing the network live in more and more markets, he said.
Moonves also noted CBS' deal with Hulu for its upcoming live service. That deal also includes affiliates that choose to participate.
The Hulu deal was significant because it is representative of the skinny bundles being offered by virtual MVPDs. "They're paying a premium to gain access to our content," he said.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.