CBS Reshuffles Sports Division

NEW YORK, January 4: CBS Corporation will integrate the
combined businesses of its College Sports Television Networks (CSTV) division
into the operations of CBS Sports.

The day-to-day operations of CSTV will now be overseen by
Tony Petitti, the executive VP and executive producer of CBS Sports. The
reorganization will be overseen by Sean McManus, the president of CBS News and
Sports.

CBS acquired CSTV Networks, a digital media company devoted
exclusively to college athletics, in November 2005. The company’s various
platforms for distribution include CSTV, a national cable network televising
regular-season and championship events for 35 men’s and women’s college sports;
CSTV.com and its network of nearly 215 official athletic sites; CSTV XXL and All
Access, broadband services providing live and streaming audio and video of more
than 10,000 events annually; as well as satellite television and radio,
in-flight entertainment, wireless networks and more.

As a part of the consolidation, Brian Bedol, who founded
CSTV and grew it as an independent division within CBS, will no longer be
responsible for day-to-day oversight of the enterprise. He will work closely
with McManus and Petitti over the next months to effect the transition, and
will continue to stay involved with CBS as a senior advisor to Leslie Moonves,
the president and CEO of CBS Corporation.

“CSTV is one of the great brands in college sports and a
real asset to CBS Corporation,” said Moonves. “It has developed tremendously
since we acquired it in 2005, thanks to the vision and hard work of Brian Bedol
and his team. We are confident that it is now ready to become a part of the
peerless CBS Sports division, joining a tremendous slate of college athletics
and an industry- leading production team. I want to thank Brian for all he has
done with CSTV, and I look forward to working with Sean and Tony as we bring
this extraordinary brand to the next level.”

“Since becoming part of CBS Corporation, CSTV has had the
opportunity to grow bigger and faster and better than I could have ever
imagined,” said Bedol. “And now, as part of CBS Sports, it joins an institution
that has become the model for all others in the sports media business. Leslie,
Sean and Tony have created a culture built on pride, excellence and the love of
sports, and I’m convinced that it is the perfect environment to continue CSTV’s
evolution.”

—By Irene Lew