CBS Invests in Streaming Outfit Syncbak

NEW YORK: CBS Corporation has made a strategic investment for a minority stake in Syncbak, a technology company that is opening up opportunities for broadcasters to stream online and on mobile devices.

The Syncbak technology uses location-based authentication to enable TV stations to stream their signal to in-market consumers. This allows broadcast networks the ability to replicate existing national, local and affiliate partnerships on the Internet and on mobile devices. This technology is currently being tested by more than 100 TV stations in 70 markets.

"We have admired and worked with Syncbak’s CEO Jack Perry since the mid-’90s," said Martin D. Franks, the executive VP of planning, policy and government affairs at 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," added Jack Perry, the 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."