Verizon, CBS sign multiyear content deal

Verizon and CBS announced a multi-year carriage deal to continue to retransmit CBS content and distribute Showtime, Smithsonian Channel and CBS Sports Network on Verizon Fios TV. Verizon will also provide access to live streaming on CBS.com and the CBS App, as well as future digital platforms that have not yet been announced. Financial terms were not disclosed.

What's in it for CBS? Retransmission revenue fees will bolster diminishing TV ad revenues as audiences move towards TV content consumption on second screens and on social media platforms. Providing access to CBS digital platforms will help CBS grow its digital audience, which is part of the network's long-term goal.

What's in it for Verizon? Verizon will maintain its competitive edge in the race for telecom companies to team with content providers to win subscribers. Sprint is partnering with Spotify and Sling TV, AT&T is trying to merge with Time Warner and T-Mobile's Binge-on platform gives subscribers access to a plethora of content from PBS to Apple Music to Disney.