Warner Bros. Television Group And CBS Corporation Sign Multi-Year Output Deal With Netflix For CW Network Programming

(October 13, 2011 – Burbank, CA) – CBS Corporation and Warner Bros. Television Group announced today a licensing agreement with Netflix [Nasdaq: NFLX] allowing U.S. members of Netflix to instantly watch previous seasons of scripted series that air on The CW from its current schedule through the 2014-15 season. As part of this four-year output deal, Netflix has licensed the rights to stream more than 700 hours of previous-season episodes of The CW’s young-skewing dramas as well as future programs. These rights extend for four years after each series, current or future, ends its broadcast run on the network. The CW content can also be made available via traditional syndication windows, electronic sell-through services and, on a partial-season basis, through authenticated cable providers. Programming available to Netflix members will include the eight dramas on The CW’s Fall 2011 schedule, including new series “Ringer,” “Hart of Dixie” and “The Secret Circle”; returning hits “The Vampire Diaries,” “Gossip Girl,” “90210,” “Supernatural,” “Nikita” and mid-season series, “One Tree Hill.” Previous seasons of “The Vampire Diaries,” “Gossip Girl,” “One Tree Hill” and “Nikita” will be available to watch instantly on October 15, with previous seasons of “Supernatural” and “90210” beginning in January 2012. Episodes of all scripted series airing on The CW this broadcast season will premiere for Netflix members in Fall 2012. In addition, all episodes of future scripted series appearing on The CW through the 2014-15 season will be available to stream from Netflix through a commensurate window. With this agreement, Netflix members can catch up on prior seasons of the network’s addictive serialized dramas streaming from Netflix as well as watch new episodes on The CW during their in-season broadcast. “This is a forward-thinking agreement for a network whose programming occupies a unique space in the content marketplace,” said Leslie Moonves, President & Chief Executive Officer, CBS Corporation. “It is a model that opens a new door for The CW programming to expand its audience reach through the terrific Netflix service, and creates a brand-new window for CBS and Warner Bros. to be paid for the content we supply the network. It also further illustrates how new distribution systems are providing premium content suppliers with additive revenue streams while still preserving traditional monetization windows.” “This proves once again the overriding importance of content in our business, while showing how emerging platforms such as Netflix are adding value to the traditional TV ecosystem,” said Barry Meyer, Chairman & CEO, Warner Bros. “And to open a new window like this for our television product strengthens the increasing value of our powerful, deep and growing portfolio.” “We have long admired the CW’s ability to connect so passionately and directly with a very important and difficult to reach demographic,” said Ted Sarandos, Chief Content Officer at Netflix. “This is programming for the on-demand generation and we hope this agreement deepens the relationships viewers already have with these powerful entertainment brands.” “This agreement is a clear example of why content creators and providers can and will grow stronger through technology partnerships tailored to the consumer,” said Bruce Rosenblum, President, Warner Bros. Television Group and Office of the President. “It extends our traditional syndication windows with a strong, additive revenue play perfect for serialized dramas, and portends even greater growth opportunities for our studio as we continue to explore and define the marketplace.” “This deal works across multiple levels for us,” said Mark Pedowitz, President, The CW. “Not only will we be able to recruit new viewers for our shows through the powerful reach of Netflix, but it also makes The CW an even more attractive option to the creative community.” About Warner Bros. Television Group: Warner Bros. Television Group strategically manages all of Warner Bros.’ current and emerging television businesses, including worldwide and local production, traditional and digital distribution and broadcasting. As the industry’s leading supplier of television programming, WBTVG has longstanding relationships with the most respected names in television, including Chuck Lorre, John Wells, Jerry Bruckheimer, J.J. Abrams and others. For the 2011-12 season, WBTVG will produce more than 50 primetime, first-run, cable and animated series, including “Two and a Half Men,” “The Big Bang Theory,” “The Mentalist,” “The Closer,” “The Ellen DeGeneres Show” and “Thundercats,” totaling over 2,000 episodes. About CBS Corporation: CBS Corporation is a mass media company with constituent parts that reach back to the beginnings of the broadcast industry, as well as newer businesses that operate on the leading edge of the media industry. The Company, through its many and varied operations, combines broad reach with well-positioned local businesses, all of which provide it with an extensive distribution network by which it serves audiences and advertisers in all 50 states and key international markets. It has operations in virtually every field of media and entertainment, including broadcast television (CBS and The CW – a joint venture between CBS Corporation and Warner Bros. Entertainment), cable television (Showtime Networks, Smithsonian Networks and CBS Sports Network), local television (CBS Television Stations), television production and syndication (CBS Television Studios, CBS Studios International and CBS Television Distribution), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), interactive media (CBS Interactive), music (CBS Records), licensing and merchandising (CBS Consumer Products), video/DVD (CBS Home Entertainment), motion pictures (CBS Films) and socially responsible media (EcoMedia). For more information, log on to www.cbscorporation.com. About Netflix: With more than 25 million members in the United States, Canada and Latin America, Netflix, Inc. [Nasdaq: NFLX] is the world's leading Internet subscription service for enjoying movies and TV shows. For US$7.99 a month, Netflix members can instantly watch unlimited movies and TV episodes streamed over the Internet to PCs, Macs and TVs. Among the large and expanding base of devices streaming from Netflix are Microsoft's Xbox 360, Nintendo's Wii and Sony's PS3 consoles; an array of Blu-ray disc players, Internet-connected TVs, home theater systems, digital video recorders and Internet video players; Apple's iPhone, iPad and iPod touch, as well as Apple TV and Google TV. In all, more than 700 devices that stream from Netflix are available. About The CW: The CW Network was formed as a joint venture between Warner Bros. Entertainment and CBS Corporation in 2006. The CW is America’s fifth broadcast network, targeting young adult viewers, specifically young women 18-34. The CW offers a five-night, 10-hour primetime lineup of original programming that runs Monday through Friday; a one-hour weekday afternoon block; and a five-hour Saturday morning animation block that delivers a total of 20 hours of programming a week over six days. The network’s primetime schedule includes “The Vampire Diaries,” “America’s Next Top Model,” “Gossip Girl,” “90210,” “Supernatural” and “Nikita” as well as freshmen series “Ringer,” “Hart of Dixie” and “The Secret Circle.”###