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MUMBAI:
US media conglomerate CBS has partnered with AXS TV, which
airs live events from the worlds of music and pop culture.
The
multi-year commitment from CBS provides for promotion and
access to content and shoulder programming opportunities,
in addition to strategic support.
The
announcement was made by CBS president, CEO Leslie Moonves,
AEG president, CEO Tim Leiweke and Mark Cuban, who will continue
to lead the network in his current role as AXS TV president,
CEO. Terms of the transaction are not being disclosed.
Moonves
said, “CBS is happy to provide AXS TV with live event
content as the basis of this partnership. This is an innovative
way to use our tent pole programming to gain more ownership
in the cable network business. AXS TV will now serve as a
terrific complement to our existing broadcast television entertainment
programming.”
Cuban
said, “CBS brings the industry’s best and most respected
resources and experience to AXS TV which will accelerate our
growth and realisation of our vision that, ‘The future
of TV is TV”.
Launched
in July 2012, AXS TV is a joint venture among Mark Cuban Companies,
AEG, Creative Artists Agency (CAA) and Ryan Seacrest Media,
and currently has 38 million subscribers to the service.
Originally
available in high definition, AXS TV is now also available
in a standard definition format.
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