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Press release from PR Newswire

CBS Corporation Increases Authorization Of Its Share Repurchase Program To $6 Billion

Thursday, July 25, 2013

CBS Corporation Increases Authorization Of Its Share Repurchase Program To $6 Billion

16:05 EDT Thursday, July 25, 2013

NEW YORK, July 25, 2013 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) announced today that its Board of Directors has expanded its share repurchase program to a total availability of $6 billion, an increase of $5.1 billion. Since the share repurchase program was initiated in January 2011, through the end of the second quarter of 2013, CBS has returned $3.75 billion of value to its shareholders.

In addition, the Board has approved a quarterly dividend on the Company's stock of $.12 per share. The dividend is payable on October 1, 2013, to shareholders of record on September 10, 2013.

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.

 

SOURCE CBS Corporation

For further information: Press Contact: Dana McClintock, (212) 975-1077, dlmcclintock@cbs.com; Investor Contact: Adam Townsend, (212) 975-5292, adam.townsend@cbs.com or Jessica Kourakos, (212) 975-6106, jessica.kourakos@cbs.com

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