America Online Names CBS News Its Exclusive Broadcast News Partner

Posted on January 5, 1999

America Online, Inc. and CBS Corporation announced today that AOL has selected CBS NEWS to be the exclusive provider of broadcast news on AOL and CompuServe and the premier provider of broadcast news on AOL's Website, AOL.COM.

Under the terms of the agreement with CBS New Media, CBS NEWS will be guaranteed a major and ongoing presence throughout AOL, CompuServe and AOL.COM. America Online has also committed to showcase the talents of CBS NEWS correspondents, producers and editors throughout the service. As part of the alliance, CBS has committed to extensive on-air promotion within each of its news broadcasts.

CBS and AOL have agreed on an exchange of value for CBS NEWS products featured on AOL and on-air promotion of AOL within CBS News programming. CBS and AOL will share advertising revenue generated through areas on the AOL brands incorporating CBS NEWS programming.

Bob Pittman, President and Chief Operating Officer of America Online, said: "Our groundbreaking partnership with CBS brings together two industry leaders to better serve both AOL members and viewers of CBS News programs. CBS's unparalleled tradition of news leadership promises a new landmark in innovative online news programming for our members. And AOL's integration into CBS News programs will provide their audiences with a fresh, interactive dimension to the viewing experience."

Mel Karmazin, President and CEO of CBS Corporation, stated, "Over the next twelve months, AOL members will view millions of pages with the CBS News logo framing our editorial content. That's a tremendous number of impressions, in a medium that augments our more traditional television and radio audience. In forming this partnership with AOL, we are also developing an important new audience and new revenue streams for CBS News, the premier newsgathering organization in the world."