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CBS, Ten Network Propose Joint Venture

CBS Studios
International and Australia's Ten Network have proposed creating a joint
venture, ElevenCo, to program a new, younger-targeted Australian TV
channel, Eleven, which will tap into the CBS

Ten Network
Holdings will own two-thirds of the new venture and CBS one-third. CBS
will also extend a pre-existing output deal with Ten Network as part of
the proposed joint venture, which will need
approval from Australian regulators.

The new
channel will have access to 70,000 hours of CBS library product,
including Everybody Loves Raymond, Sex and the City, Frasier and JAG.
It will also feature
episodes of The Simpsons, Futurama, The Cleveland Show and 90210. The
channel is slated to launch in early 2011.