(May 6, 2009 – Santa Monica, CA) – Ascent Media Group, CBS and Warner Bros. Entertainment announced the creation of a new platform designed to provide a cost-effective, optimized and streamlined platform for broadcast syndicated programming for North American broadcast stations. The new platform builds on an established relationship between Ascent Media and Warner Bros. digital content distribution arm - Global Digital Media Xchange (GDMX). Since 2004, Ascent Media and GDMX have worked together to deliver syndication services to a variety of clients in the U.S. CBS will join Ascent and Warner Bros. to distribute CBS’s syndication programming via the new platform. The new platform will provide the capital investment and technology upgrades to create a cost-effective delivery solution which streamlines transmission of both HD and SD programming, significantly improving upon current technologies that require two streams to achieve the same goal. Combined with better compression techniques, additional storage capacity and optimized transmission technologies, the new platform hopes to provide many benefits to syndicators and stations at a critical time in the adoption of HD. The service footprint will include a guaranteed minimum of 800 stations, including top 100 domestic markets, as a result of Warner Bros. and CBS both delivering their syndicated content over the network. The new service is expected to launch later this year. “Broadcast stations need a simple solution for receiving both HD and SD programming, and syndicators require a cost-effective solution for getting their syndicated content to the largest number of stations. This new platform leverages the strengths of Ascent Media and Warner Bros. to meet those needs,” said Jose Royo, CEO of Ascent Media Group. “Warner Bros. is a leader in syndicated HD programming and has been instrumental in designing the platform and incorporating feedback from stations. We are excited about the potential of this new platform to enable rapid innovation and address the content management challenges of distribution of syndicated content.” “This platform reflects the collective desire of Ascent Media and Warner Bros. to bring greater efficiency to the distribution process while providing improved High Definition delivery service to our collective affiliates and clients," said Darcy Antonellis, President, Warner Bros. Technical Operations. “We are excited to launch this new platform, to continue our work with Ascent Media.” About Ascent Media Group Santa Monica, California-based Ascent Media Group, LLC is a wholly-owned subsidiary of Ascent Media Corporation (Nasdaq: ASCMA), which provides creative and technical services to the media and entertainment industries. Through more than 40 facilities in regions of Southern California, New York, Atlanta, London and Singapore, Ascent Media provides effective solutions for the creation, management and distribution of content to major motion picture studios, independent producers, broadcast networks, cable channels, advertising agencies and other companies that produce, own and/or distribute entertainment, news, sports, corporate, educational, industrial and advertising content. About CBS Corporation 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 The CW – a joint venture between CBS Corporation and Warner Bros. Entertainment), cable television (Showtime Networks and CBS College Sports Network), local television (CBS Television Stations), television production and syndication (CBS Paramount Network Television and CBS Television Distribution), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), interactive media (CBS Interactive), music (CBS Records), licensing and merchandising (CBS Consumer Products), video/DVD (CBS Home Entertainment), in-store media (CBS Outernet) and motion pictures (CBS Films). For more information, log on to www.cbscorporation.com. About Warner Bros. Entertainment Inc. 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 creative content and their related businesses, across all current and emerging media and platforms. The company stands at the forefront of every aspect of the entertainment industry from feature film, TV and home entertainment production and worldwide distribution to DVD, digital distribution, animation, comic books, licensing, international cinemas and broadcasting. Forward-Looking Statements Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Ascent Media Corporation, CBS and Warner Bros. and its subsidiaries or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors include, among others: the risks and factors described in the statements and reports of Ascent Media Corporation, CBS and Warner Bros. filed or furnished with the Securities and Exchange Commission (and publicly available at the Securities and Exchange Commission’s website, www.sec.gov); general economic and business conditions and industry trends; spending on television advertising, first-run content libraries and existing content libraries; the regulatory and competitive environment of the industries in which Ascent Media Corporation, CBS or Warner Bros. operates; rapid technological changes; future financial performance, including availability, terms and deployment of capital; changes in, or failure to comply with, government regulations, including, without limitation, regulations of the Federal Communications Commission, and adverse outcomes from regulatory proceedings; and competitor responses to Ascent Media Corporation’s, CBS’ or Warner Bros. products and services, and the overall market acceptance of such products and services, including acceptance of the pricing of such products and services. These forward-looking statements speak only as of the date of this Release. Ascent Media Corporation, CBS and Warner Bros. expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Ascent Media Corporation, CBS or Warner Bros.’ expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
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