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CBS and AXS TV Partner To Enhance Leading Live Events Network Dedicated To Live Music And Pop Culture

  CBS and AXS TV Partner To Enhance Leading Live Events Network Dedicated To
                          Live Music And Pop Culture

PR Newswire

LOS ANGELES, Feb. 14, 2013

LOS ANGELES, Feb. 14, 2013 /PRNewswire/ --CBS Corporation (NYSE:CBS)
announced today that it has partnered with AXS TV, the leading television
network dedicated to broadcasting live events from the worlds of music and pop
culture. Launched in July 2012, AXS TV is a joint venture among Mark Cuban
Companies, AEG, Creative Artists Agency (CAA) and Ryan Seacrest Media, and
currently has 38 million subscribers to the service. Originally available in
high definition, AXS TV is now also available in a standard definition format.

(Logo: http://photos.prnewswire.com/prnh/20130214/LA60709LOGO-a)

(Logo: http://photos.prnewswire.com/prnh/20130214/LA60709LOGO-b)

The announcement was made by Leslie Moonves, President and CEO of CBS
Corporation, Tim Leiweke President and CEO of AEG, and Mark Cuban, who will
continue to lead the network in his current role as President and CEO of AXS
TV. Terms of the transaction are not being disclosed.

The multi-year commitment from CBS provides for promotion and access to
content and shoulder programming opportunities, in addition to strategic
support.

"CBS is happy to provide AXS TV with live event content as the basis of this
partnership," said Moonves. "This is an innovative way to use our tentpole
programming to gain more ownership in the cable network business. AXS TV will
now serve as a terrific complement to our existing broadcast television
entertainment programming."

"CBS brings the industry's best and most respected resources and experience to
AXS TV which will accelerate our growth and realization of our vision that,
'The future of TV is TV,'" commented Cuban.

"It was amazing to see the transformation from HDNet to AXS TV, and now this
new partnership with CBS will create a new kind of live entertainment
experience for fans," said Leiweke. "We share Mark's vision of bringing
together the best minds and the best companies in the entertainment space.
Nobody does it better than CBS and Les Moonves and I consider him the finest
at what he does. Add the power of CBS to 'the Shark' – Mark Cuban – and then
combine this with AEG, Ryan Seacrest Media and CAA, and I believe this is not
just 'must see TV,' it's 'can't miss TV'," Leiweke added.

About AXS TV

Launched in July 2012 under the vision and stewardship of entrepreneur Mark
Cuban, AXS TV is the premier destination for live events, breaking news, and
as-they-are-happening trends in the worlds of pop culture, music, fashion, and
entertainment.

AXS TV Concerts is the premier source on television for 100% live music. From
multi-day festivals to stadium tours to club acts, AXS TV delivers an
unparalleled shared experience for fans of all genres. Leveraging the
network's vast landscape, artists expand their reach to live behind-the-scenes
moments, live fan Q&As, social media engagement and more unique opportunities
specifically for the AXS TV audience. With multiple live concerts weekly, AXS
TV is the number one destination for artists and their fans to experience and
share a pure live event in the world of music and pop culture. Live LIVE!

With production facilities at AEG's owned and operated L.A. LIVE (which
includes venues such as STAPLES Center, Nokia Theatre L.A. LIVE, Club Nokia
and The GRAMMY Museum's Clive Davis Theater), as well as their access to their
worldwide network of the busiest venues of all sizes, AXS TV has the inside
track to programming that connects audiences with the complete live
experience.

From show creation and development to rehearsals, sound-check and performance
and right thru the after-party, AXS TV viewers get an immersive look into
their favorite acts touring today from across the globe.

The largest independently owned and operated network, AXS TV was developed by
entrepreneur Mark Cuban and Philip Garvin. The network partners include Mark
Cuban, AEG, Ryan Seacrest Media and Creative Artists Agency (CAA). For more
information, go to www.axs.tv. 

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, outdoor advertising, 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), Showtime Networks, CBS Sports Network, Smithsonian
Networks, Simon & Schuster, CBS Television Stations, CBS Radio, CBS Outdoor,
CBS Television Studios, CBS Global Distribution Group, CBS Interactive, CBS
Consumer Products, CBS Home Entertainment, CBS Films and CBS EcoMedia. For
more information, go to www.cbscorporation.com.

About AEG:

AEG is one of the leading sports and entertainment presenters in the world.
AEG, a wholly owned subsidiary of the Anschutz Company, owns or is affiliated
with a collection of companies including over 100 of the world's preeminent
facilities such as STAPLES Center (Los Angeles, CA), The Home Depot Center
(Carson, CA), Best Buy Theater (Times Square, New York), Sprint Center,
(Kansas City), Rose Garden Arena (Portland, OR), Target Center (Minneapolis,
MN), Mercedes-Benz Arena (Shanghai, China), MasterCard Center (Beijing,
China), O2 World Hamburg, Allphones Arena (Sydney, Australia), Ericsson Globe
arena (Stockholm, Sweden), O2 World arena (Berlin, Germany) and The O2 arena
and entertainment district (London, England) which are all part of the
portfolio of AEG Facilities. Developed by AEG, L.A. LIVE is a 4 million square
foot / $2.5 billion downtown Los Angeles sports, residential & entertainment
district featuring Nokia Theatre L.A. LIVE and Club Nokia, a 54-story,
1001-room convention "headquarters" destination along with entertainment,
restaurant and office space that "officially" opened in 2010.In addition to
overseeing privately held management shares of the Los Angeles Lakers (NBA),
assets of AEG Sports include franchises and properties such as the 2012
Stanley Cup Champion LA Kings (NHL), Two-time defending MLS Cup Champion LA
Galaxy and Houston Dynamo (MLS), two hockey franchises in Europe, the Amgen
Tour of California cycling race and Bay to Breakers foot race. AEG Live, the
company's live-entertainment division, is the world's second largest concert
promotion and touring companies and is comprised of touring, festival,
exhibition, broadcast, merchandise and special event divisions with fifteen
regional offices. AEG Global Partnerships, a division responsible for
worldwide sales and servicing of sponsorships naming rights and other
strategic partnerships and AEG Merchandising, a multi-faceted merchandising
company are also core business units of AEG. In 2010, AEG launched its AEG
1EARTH environmental program with the announcement of 2020 environmental goals
and the release of the industry's first sustainability report while in 2011,
AEG introduced axs Ticketing, the first phase of its new entertainment
platform serving as the company's primary consumer brand which will also
features a mobile service as well as a video content service now in
development. For additional information, visit www.aegworldwide.com.

SOURCE AXS TV; CBS Corporation

Website: http://www.axs.tv
Website: http://www.cbscorporation.com
Contact: CBS, Dana McClintock, dlmcclintock@cbs.com, (212) 975-1077, or AXS TV
/ AEG, Michael Roth, mroth@aegworldwide.com, (213) 742-7155
 
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