CBS Corporation Announces Redemption Of 8.875% Senior Notes Due 2019

NEW YORK, Aug. 21, 2014 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) today announced the full redemption of its outstanding 8.875% senior notes due May 15, 2019. The redemption date is September 20, 2014.

The redemption amount for the notes is equal to the sum of the principal amount of the notes outstanding, the make-whole amount calculated in accordance with the terms of the notes and the related indenture under which the notes were issued, and the accrued and unpaid interest on the notes up to, but excluding, the redemption date of September 20, 2014. The aggregate principal amount of the notes outstanding on August 21, 2014, is $264,250,000.

Holders owning notes through a broker, bank, or other nominee should contact that party for information. For more information, holders of notes may call the paying agent for the redemption, the Bank of New York Mellon at (800) 254-2826.

Disclosure Notice

All statements in this release other than statements of historical fact are, or may be deemed to be, "forward-looking" statements, and reflect CBS Corporation's current expectations concerning future results and events. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, without limitation: changes in legislation, tax rules or market conditions; other domestic and global economic, business, competitive and/or regulatory factors affecting CBS Corporation's businesses; and other factors described in CBS Corporation's news releases and filings with the SEC including, but not limited to, its most recent Forms 10-K, 10-Q and 8-K. You should not place undue reliance on these forward-looking statements, which apply only as of the time of this news release. Except to the extent required by applicable securities laws, we do not undertake any obligation to update any forward-looking statements contained in this release as a result of new information or future events or developments.

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, 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), CBS Television Studios, CBS Global Distribution Group (CBS Studios International and CBS Television Distribution), CBS Consumer Products, CBS Home Entertainment, CBS Films, CBS Interactive, Showtime Networks, CBS Sports Network, TVGN (a joint venture between CBS Corporation and Lionsgate), Smithsonian Networks, Simon & Schuster, CBS Television Stations, CBS Radio and CBS EcoMedia. For more information, go to www.cbscorporation.com.

SOURCE CBS Corporation

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