CBS AND THE RECORDING ACADEMY SIGN A NEW FIVE-YEAR EXTENSION

"The Grammy Awards" to Remain on CBS Through 2011

CBS and The Recording Academy have signed a new five-year extension that will keep the annual "Grammy Awards" on CBS through 2011, it was jointly announced by CBS and The Recording Academy.

The new agreement further extends one of the longest broadcast partnerships in television history. CBS has been the broadcast home of the Grammy Awards since 1973. The current agreement was set to expire after the 2006 Grammy broadcast.

In addition to the Grammy telecasts, the new agreement also includes various potential new live music and music-driven content properties over the course of the partnership, as well as a shared commitment to public service and educational content.

"Each February, CBS and The Recording Academy come together to stage one of television's biggest and most entertaining annual events," said Leslie Moonves, Co-President and Co-Chief Operating Officer, Viacom, and Chairman, CBS. "But the mutual respect and camaraderie between our two organizations is full-time, all-the-time, creating a great environment to support our respective businesses and serve our respective audiences. We look forward to working with Neil Portnow and his outstanding team to deliver future broadcasts that take one of CBS's signature nights to new heights over the next decade."

"We are so pleased to have reached a long-term partnership with our great friends at CBS that extends beyond our signature Grammy Awards event, when the world tunes in to see Music's Biggest Night," said Neil Portnow, President, The Recording Academy. "We, of course, will continue to recognize excellence in all recorded music through our Awards process and show. Now, fortunately, we'll be able to bring live music, music-oriented programs and public service and educational content to viewers by keeping Grammy-related programming on the air throughout the year. This is a landmark commitment by both parties as we collectively spotlight the creative endeavors and timely topics that are important to music fans and music makers of all genres."

"The Grammy Awards," the music industry's biggest night, is one of the television season's major broadcast events, ranking as one of the highest rated and most watched specials, especially among younger viewers. Last year's broadcast was seen by nearly 46 million viewers.