CBS Corporation Makes Strategic Investment In Syncbak
NEW YORK, April 22, 2013
NEW YORK, April 22, 2013 /PRNewswire/ --CBS Corporation today announced it
has made a strategic minority investment in Syncbak, a technology company that
affords broadcasters new content distribution opportunities on emerging
platforms. Using location-based authentication technology, Syncbak enables
local television stations to stream their signal to in-market consumers. In
doing so, Syncbak offers broadcast networks a seamless solution to replicate
existing national, local and affiliate partnerships on the Internet and mobile
devices. CBS expects to work closely with its owned and affiliated television
stations as well as advertisers, rights holders, cable, satellite and telco
partners in the coming months and years as Syncbak becomes fully activated and
deployed. At the same time, Syncbak will continue to offer its platform to
other broadcast networks and their station groups.
"We have admired and worked with Syncbak's CEO Jack Perry since the mid-'90s,"
said Martin D. Franks, Executive Vice President, Planning, Policy and
Government Affairs, CBS Corporation. "As an executive, he's as knowledgeable
about emerging technologies as he is about broadcasting. Over the last couple
years, we have worked with Jack as he developed Syncbak's very elegant
technology platform, which presents several interesting opportunities for
broadcast networks, their stations and affiliates. We look forward to
collaborating with him as we move the initiative forward."
"Across the country broadcasters are looking for the best way to respond to
consumer demand for streaming their content," said Jack Perry, CEO of Syncbak.
"Syncbak's technology provides the right solution at the right time to make
that happen. I am particularly pleased that CBS has recognized the role that
Syncbak can play as the broadcast model continues to evolve."
Syncbak's technology is currently being tested by more than 100 television
stations in 70 markets across 31 broadcast groups representing all major
networks, including CBS, ABC, FOX, NBC and The CW. Additional strategic
investors of Syncbak include the National Association of Broadcasters and the
Consumer Electronics Association.
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.
When fully activated and deployed, the Syncbak app, available via the App
Store and Google Play, will allow users to watch live, in-market broadcast TV
on Apple and Android smart phones and tablets. Syncbak's technology "localizes
the internet" for broadcasters, networks and entertainment studios, enabling
retransmission of live television over the internet in much the same way it
works over cable and satellite and telcos. Syncbak was founded in 2009 by Jack
Perry. For more information, go to Syncbak.com.
SOURCE CBS Corporation
Contact: CBS Press, Dana McClintock, 212-975-1077, email@example.com, or
Shannon Jacobs, 212-975-3161, firstname.lastname@example.org
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