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.