CBS and YouTube Strike Strategic Content and Advertising Partnership

YouTube, Inc. and CBS Corporation (NYSE: CBS.A) and (NYSE: CBS) have struck a strategic content and advertising partnership announced today by Leslie Moonves, President and CEO of CBS Corporation and Chad Hurley, CEO and Co-Founder of YouTube. The deal calls for the CBS Television Network, its premium television service provider, Showtime Networks Inc., as well as its basic cable/digital media service, CSTV Networks, Inc., to offer the YouTube community a wide variety of short-form video programming from its news, sports and entertainment divisions on a daily basis beginning this month. YouTube and CBS will share revenue from advertising sponsorships of CBS Videos.

In addition, CBS is the first TV network to test YouTube's new advanced content identification architecture and reporting system which will allow CBS to protect its intellectual property by identifying and locating copyrighted CBS content on YouTube. CBS will then have the opportunity to either remove it from the site or, at CBS's sole discretion, allow it to remain. If CBS allows the content to remain on the site, CBS will share in any revenue from advertising placed adjacent to the content.

"We're pleased to be the first network to strike a major content deal with what is clearly one of the fastest growing new media platforms out there," said Moonves. "This strategic partnership is a unique development in CBS's continuing initiative to monetize our industry-leading content across new distribution platforms. We're now able to offer select entertainment, news and sports programming to a new significant audience, get paid for it, and learn a few things along the way."

"We're excited to partner with CBS to bring their high-quality, entertaining content to our users. As the first major network to offer a daily delivery of informative and entertaining video clips, CBS will have the opportunity to reach YouTube's far-reaching and diverse community in a unique and powerful way," said Hurley. "Today's agreement demonstrates that YouTube has become a revenue-generating distribution channel for major networks and other media companies. By partnering with YouTube, media companies can now have a two-way dialogue with viewers who can provide feedback about what they find entertaining."

Under this agreement, CBS will also be providing the YouTube community with video content from CSTV. College sports fans can watch and share some of their favorite college athletics events on YouTube. Beyond highlights and footage from CSTV's network of more than 100 broadband channels of live college sports, the college sports leader will utilize its relationship with students at hundreds of universities to enable fans to upload their own content from tailgate parties, pep rallies and other campus events.

Content on YouTube's new CBS Brand Channel will include daily contributions from:

--  CBS Entertainment; including short clips from top CBS programs
    including "Survivor," "CSI," and "The Late Show with Dave Letterman," as
    well as mini-previews and footage from its new fall lineup.

--  CBS News; including short videos from "CBS Evening News with Katie
    Couric," "The Early Show," and "60 Minutes."

--  CBS Sports; including analysis of college and professional sports, as
    well as programming from CSTV.

--  Showtime Networks, including promotional video clips from its
    critically acclaimed original series including "Dexter," "Brotherhood"
    "Sleeper Cell and "The L Word."

About YouTube Brand Channels

YouTube Brand Channels provide an enhanced environment for media companies and advertisers to showcase their video content on YouTube with a look and feel that is consistent with their brand imagery. This new concept helps brands connect and engage with consumers in a unique and powerful way, around compelling, programmable video content. For more information on YouTube Brand Channels, please contact advertising@youtube.com .

About CBS

CBS Corporation (NYSE: CBS.A) and (NYSE: CBS) is a mass media company with constituent parts that reach back to the beginnings of the broadcast industry, as well as newer businesses that operate on the leading edge of the media industry. The Company, through its many and varied operations, combines broad reach with well-positioned local businesses, all of which provide it with an extensive distribution network by which it serves audiences and advertisers in all 50 states and key international markets. It has operations in virtually every field of media and entertainment, including broadcast television (CBS and The CW -- a joint venture between CBS Corporation and Warner Bros. Entertainment), cable television (Showtime Networks and CSTV Networks), local television (CBS Television Stations), television production and syndication (CBS Paramount Network Television and CBS Television Distribution Group), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), digital media (CBS Digital Media Group and CSTV Networks) and consumer products (CBS Consumer Products). For more information, log on to www.cbscorporation.com .