THE CW ANNOUNCES 18 NEW LONG-TERM AFFILIATION AGREEMENTS

America's Fifth Broadcast Network Increases National Coverage To More Than 66% Of The Country

Wilkes Barre-Scranton, Lexington, Flint-Saginaw-Bay City, Wichita-Hutchinson, Toledo, Tri-Cities, Evansville, Tyler-Longview, Sioux Falls, Augusta, Lafayette (LA), Palm Springs, Alexandria (LA), Rapid City, Bend, St. Joseph, San Juan and the U.S. Virgin Islands Are The Latest Markets To Be Served By The CW

The CW announced today that it has signed exclusive, long-term affiliation agreements with stations in Wilkes Barre-Scranton, Lexington, Flint-Saginaw-Bay City, Wichita-Hutchinson, Toledo, Tri-Cities, Evansville, Tyler-Longview, Sioux Falls, Augusta, Lafayette (LA), Palm Springs, Alexandria (LA), Rapid City, Bend, St. Joseph, San Juan and the U.S. Virgin Islands.

The addition of these 18 stations increases The CW's national coverage to more than 66% of the country, including 19 of the Top 20 markets and 26 of the Top 30.

The newly signed affiliates are:

* WSWB-TV Wilkes Barre-Scranton, PA, owned by KB Prime Media LLC and operated by Pegasus Broadcast Television.

* WKYT-DT (& WYMT-DT) Lexington (& Hazard), KY, owned by Gray Television, Inc.

* WBSF-TV Flint-Saginaw-Bay City, owned by Barrington Broadcasting.

* KWCV-TV Wichita-Hutchinson, KS, owned by Banks Broadcasting Inc.

* WTO5 (Cable) Toledo, OH, owned by Block Communications.

* WB4 (Cable + DT) Tri-Cities, TN-VA, owned by BlueStone TV Holdings Inc.

* WAZE-TV Evansville, IN, owned by South Central Communications Corporation.

* KCEB-TV Tyler-Longview, TX, owned by Dimension Broadcasting.

* KWSD-TV (& KWSD-DT) Sioux Falls, SD, owned by Rapid Broadcasting Company.

* WAGT-DT Augusta, GA, owned by Schurz Communications Inc.

* KLWB-TV Lafayette, LA, owned by Dimension Broadcasting.

* KESQ-DT Palm Springs, CA, owned by News-Press & Gazette Broadcasting Company.

* KBCA-TV Alexandria, LA, owned by Dimension Broadcasting.

* KWBH-TV Rapid City, SD, owned by Rapid Broadcasting Company.

* KTVZ-DT Bend, OR, owned by News-Press & Gazette Broadcasting Company.

* WBJO (Cablevision), St. Joseph, MO, owned by News-Press & Gazette Cable, Inc.

* WSJP-TV San Juan, Puerto Rico, owned by Storefront TV LLC.

* WCVI-TV U.S. Virgin Islands, owned by Virgin Blue, Inc.

These stations are in the 54th, 63rd, 65th, 67th, 70th, 91st, 100th, 111th, 114th, 115th, 124th, 153rd, 176th, 177th, 196th and 201st largest markets in the country, respectively, and represent 4.01% of total U.S. TV households. (Nielsen does not assign a DMA rank or percentage of total U.S. TV households to Puerto Rico and the U.S. Virgin Islands.)

WSWB-TV, WBSF-TV, KWCV-TV, WTO5, WB4, WAZE-TV, KCEB-TV, KWSD-TV, KLWB-TV, KESQ-TV, KBCA-TV, KWBH-TV and St. Joseph Cablevision are currently affiliates of The WB. WKYT-DT (& WYMT-DT) and WCVI-TV are currently UPN affiliates. WSJP-TV is currently a dual UPN-WB affiliate. WAGT-DT and KTVZ-DT are the digital channels of the NBC affiliates in Augusta and Bend.

"These newest members of The CW affiliate family represent an outstanding group of broadcasters and we're very pleased to enter into these long-term affiliations with each of them," said John Maatta, Chief Operating Officer, The CW. "They join a growing line-up of stations that will reap the rewards of being a part of America's newest full-service network -- a network which has the unique advantage of launching with well-known, star-driven, successful and eminently saleable programs that are magnets for our target demographics. And supporting that sterling schedule will be the unsurpassed multi-media marketing muscle of two world-renowned companies."

On January 24, CBS Corporation and Warner Bros. Entertainment announced their intent to form a new 5th network, The CW, to be launched in the fall of 2006. The new broadcasting network will be a joint venture between Warner Bros. Entertainment and CBS Corporation, with each company owning 50%.

In an important strategic move that secures major market distribution for The CW, it was also announced on January 24th that Tribune Broadcasting and the CBS Corporation's UPN affiliates have agreed separately to sign 10-year affiliation agreements with the new network. The combination of Tribune's 16 major market stations (New York, Los Angeles, Chicago, Boston, Dallas, Washington, D.C., Houston, Miami, Denver, St. Louis, Portland, Indianapolis, San Diego, Hartford, New Orleans and Albany) and the 11 CBS-owned UPN major market affiliates (Philadelphia, San Francisco, Atlanta, Detroit, Tampa, Seattle, Sacramento, Pittsburgh, West Palm Beach, Norfolk and Providence) cover the top 13 television markets, 20 of the top 25 television markets and have a total coverage area of more than 47% of the country.

The remainder of the network's distribution system will be a combination of selected current UPN and The WB stations.

The CW will incorporate The WB's current scheduling model, which consists of a 6 night-13 hour primetime lineup including Monday through Friday nights from 8-10 (EST/PST); Sundays from 7-10 (EST/PST); Sunday from 5-7 (EST/PST) outside of primetime as well as a Monday thru Friday afternoon block from 3-5 (EST/PST) and a 5-hour Saturday morning animation block. Together, the network will program 30 hours a week over seven days for its affiliated stations.

CBS Corporation (NYSE: CBS.A and CBS) 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 UPN), cable television (Showtime and CSTV Networks), local television (CBS Television Stations), television production and syndication (CBS Paramount Television and King World), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), theme parks (Paramount Parks), digital media (CBS Digital Media Group and CSTV Networks) and consumer products (CBS Consumer Products). In Fall 2006, UPN will cease operations and The CW, a new fifth broadcast television network, will launch as a joint venture between Warner Bros. Entertainment and CBS Corporation. For more information, log on to www.cbscorporation.com.

Warner Bros. Entertainment, a fully-integrated, broad-based entertainment company, is a global leader in the creation, production, distribution, licensing and marketing of all forms of entertainment and their related businesses. Warner Bros. Entertainment, a Time Warner Company, stands at the forefront of every aspect of the entertainment industry, from feature films to television, home video/DVD, animation, comic books, interactive entertainment and games, product and brand licensing, international cinemas and broadcasting.