CBS Corporation Forms New Distribution Group

LOS ANGELES, September 27: CBS Corporation has formed the
CBS Television Distribution Group, tapping Roger King as CEO of the new
division, which encompasses CBS Paramount Domestic Television, King World and
CBS Paramount International Television. The restructure sees Joel Berman,
president of CBS Paramount Worldwide Television, leaving the company.

Les Moonves, the president and CEO of CBS Corporation, said
in announcing the new division, "These premier organizations joined
together will form one fully-integrated, syndication powerhouse. In addition,
this restructuring will streamline our global distribution operations, focus
our syndicated programming and sales resources and create a dynamic and
prolific pipeline to serve the syndication marketplace."

Robert Madden and John Nogawski have been named presidents
and COOs of the new domestic syndication operation, while Armando Nuñez, Jr.
remains as president of CBS Paramount International Television. All three will
report directly to King, who has served as CEO of CBS Enterprises and King
World productions since January 2000.

"Roger King is a syndication legend whose salesmanship,
programming instincts and passion for servicing his clients are second to
none," said Moonves. "There is no one better at identifying the
highest quality programming for syndication and bringing it to market in a way
that maximizes revenue for the company and delivers value to local stations and
cable networks. I look forward to working with Roger, Bob, John and Armando on
future strategies to exploit the vast programming assets in our company."

In domestic television, the CBS Television Distribution
Group will comprise first-run and off-network programming from King World and
CBS Paramount Domestic Television, as well as new programming developed under
the CBS Television Distribution Group banner. The division’s assets include Wheel
of Fortune, Jeopardy!, Entertainment Tonight, The Insider, Oprah Winfrey, Dr.
Phil and Rachael Ray, among others, as well as off-network series such as
the CSI franchise and Everybody
Loves Raymond.

In the new domestic television structure, Madden will
oversee operations for administration, finance, legal, communications and CBS
Consumer Products. Nogawski will run all syndication sales and advertiser
sales, as well as marketing, research and new media.

Terry Wood, who was named president of creative affairs and
development for both CBS Paramount Domestic TV and King World last year, will
continue that role in the new domestic entity, reporting to both Madden and
Nogawski. Wood will be in charge of current programming for both labels and for
developing new first-run series. Steve LoCascio, who has served as EVP and CFO
for CBS Enterprises, has been named EVP and CFO for the CBS Television
Distribution Group.

CBS Paramount International Television (CPITV) will continue
to distribute CBS Corporation's network and syndicated programming
internationally, as well as identify format sales and co-production
opportunities. CPITV has nine offices worldwide and manages the company's
interests in TV1, a channel in Australia. Its titles include Medium, Survivor,
Jericho and NCIS, among others.

In addition, the CBS Television Distribution Group will
serve both the domestic and the international television marketplace with a
library of more than 70,000 hours of television programming from CBS
Entertainment, CBS News, King World, Spelling Television and CBS Paramount
Television—ranging from current and recent hit programs to classic series
such as I Love Lucy, Star Trek, The Twilight Zone, Gunsmoke
and Gilligan's Island.