CBS AND NETFLIX ANNOUNCE EXTENSION OF MULTIYEAR LICENSING AGREEMENT FOR LIBRARY CONTENT IN THE U.S.

NEW YORK, N.Y. and BEVERLY HILLS, CALIF. - July 8, 2013 - CBS Corporation [NYSE: CBS.A and CBS] and Netflix, Inc. [Nasdaq: NFLX] today announced an extension of its multiyear licensing agreement for select CBS library content streamed instantly to Netflix customers. Under the revised deal, new titles such as "L.A. Complex," "4400," and "CSI: NY" will be available to Netflix subscribers. Terms of the deal were not disclosed.

"We are very pleased to build on this long-term partnership that continues to recognize the tremendous value of CBS's catalog of content," said Scott Koondel, Chief Corporate Content Licensing Officer for CBS Corporation. "Netflix is a key programming partner that is additive to our overall business, and we look forward to working with them in the years to come."

"We are delighted to be bringing these much-loved series to our members in the U.S.," said Ted Sarandos, Chief Content Officer for Netflix. "Our goal is to give Netflix members a broad mix of engaging shows to watch, and we look forward to adding even more high-profile titles from CBS in the near future."

In addition to the newly added series, the agreement also includes popular CBS series already on Netflix such as "Jericho," "Medium," and "Flashpoint," as well as episodes from some of television's most iconic franchises, including all generations of the definitive sci-fi series "Star Trek" and the cult favorite "Twin Peaks."

About CBS Corporation

CBS Corporation (NYSE: CBS.A and CBS) is a mass media company that creates and distributes industry-leading content across a variety of platforms to audiences around the world. The Company has businesses with origins that date back to the dawn of the broadcasting age as well as new ventures that operate on the leading edge of media. CBS owns the most-watched television network in the U.S. and one of the world's largest libraries of entertainment content, making its brand - "the Eye" - one of the most recognized in business. The Company's operations span virtually every field of media and entertainment, including cable, publishing, radio, local TV, film, outdoor advertising, and interactive and socially responsible media. CBS's businesses include CBS Television Network, The CW (a joint venture between CBS Corporation and Warner Bros. Entertainment), Showtime Networks, CBS Sports Network, TVGN (a joint venture between CBS Corporation and Lionsgate), Smithsonian Networks, Simon & Schuster, CBS Television Stations, CBS Radio, CBS Outdoor, CBS Television Studios, CBS Global Distribution Group (CBS Studios International and CBS Television Distribution), CBS Interactive, CBS Consumer Products, CBS Home Entertainment, CBS Films and CBS EcoMedia. For more information, go to www.cbscorporation.com.

About Netflix

Netflix is the world's leading Internet television network with more than 36 million members in 40 countries enjoying more than one billion hours of TV shows and movies per month, including Netflix original series. For one low monthly price, Netflix members can watch as much as they want, anytime, anywhere, on nearly any Internet-connected screen. Members can play, pause and resume watching, all without commercials or commitments. Learn more about how Netflix (NASDAQ: NFLX) is pioneering Internet television at www.netflix.com or follow Netflix on Facebook and Twitter.