CBS signs deal to be on Hulu's live-streaming platform

Reuters News
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Posted: Jan 04, 2017 1:37 PM

(Reuters) - CBS Corp has signed a deal to have its broadcast network and some cable programming on Hulu's live streaming service, which is expected to go live this year, the companies said Wednesday.

Under the deal, the New York-based broadcaster's sports programming, including its NFL games and the NCAA Division 1 Basketball Championship, as well as CBS Sports Network and POP, an entertainment channel, will be on Hulu. Hulu subscribers will also be able to subscribe to CBS Corp's Showtime for an additional price.

CBS, whose shows include news magazine "60 Minutes" and the comedy "The Big Bang Theory," will bring in more than $3 per monthly subscriber for its channels, with increases that could eventually get to more than $4, according to a source familiar with the situation. The source requested anonymity because the deal is not yet public.

The Wall Street Journal first reported news of the agreement.

For Hulu, the addition of CBS's shows is a potential edge since its competitor AT&T DirectTV <T.N> has not inked a deal with CBS for its own live streaming platform, DirecTV Now, which went live late last year.

In December, CBS Chief Executive Leslie Moonves said he expected to reach a deal with AT&T DirecTV to be on the platform.

Hulu is owned by CBS's competitors, Walt Disney Corp, Twenty-First Century Fox, Comcast Corp and Time Warner inc.

(Reporting by Jessica Toonkel; Editing by Alan Crosby and James Dalgleish)