CBS Corporation to Integrate CSTV Into CBS Sports

CBS Corporation will integrate the combined businesses of
its College Sports Television Networks (CSTV) division into the operations of
CBS Sports; it was announced by Leslie Moonves, President and CEO, CBS Corporation.
The reorganization, effective yesterday, will be overseen by Sean McManus,
President, CBS News and Sports, and the day-to-day operations of CSTV will now
be overseen by Tony Petitti, Executive Vice President and Executive Producer,
CBS Sports.

CBS acquired CSTV Networks, Inc., the digital media company devoted
exclusively to college athletics, in November 2005. The company’s many
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 Moonves.

“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.”

CSTV joins a division that is already one of the prolific
suppliers of televised college sports programming. CBS Sports serves as the
exclusive network broadcaster for the NCAA Division I Men’s Basketball
Championship, and in 2008 will mark its 27th consecutive year of broadcasting
the Final Four and Championship games. In addition, CBS Sports is the exclusive
network broadcaster of the Big East, Southeastern and Big Ten Conferences, broadcasting
the top collegiate basketball games over 14 weekends in the regular season.
Throughout the basketball season, CBS Sports also features marquee match-ups
from the Pac-10, ACC and Big 12 Conferences. CBS Sports also serves as the
exclusive national broadcaster of SEC Football, highlighted by home games
featuring the best SEC regular-season action the Conference has to offer,
concluding with the SEC Championship Game. CBS Sports also broadcasts the
annual Army-Navy game, Gator Bowl and the Sun Bowl.

“We are extremely pleased to bring CSTV into the CBS
Sports family,” said McManus. “This is one of the true gems in
collegiate sports media, and its complimentary assets make it the perfect
addition to our division. With the power of CBS Sports behind it, I know CSTV
will thrive and grow as never before.”

“With the addition of CSTV, CBS Sports expands its role
as the industry’s foremost provider of professional, collegiate and high school
sporting events,” said Petitti. “The integration of these assets
gives us a whole new universe of programming and promotional platforms to
engage sports fans, and the combination of CSTV’s digital media sites and the industry-leading
CBSSports.com raises our interactive presence to a whole new level. I’m very
excited to work with all the talented employees of CSTV as we welcome them into
our family, and continue providing the very best sports programming in media.”