CBS Corporation Announces Expiration of Cash Tender Offer for Any and All of its...

CBS Corporation Announces Expiration of Cash Tender Offer for Any and All of
its Outstanding 7.70% Senior Notes Due 2010

NEW YORK, May 18 /PRNewswire-FirstCall/ -- CBS Corporation (NYSE: CBS.A; CBS)
announced today the expiration of its tender offer (the "Offer") to purchase
for cash any and all of its outstanding 7.70% Senior Notes due 2010 (the
"Notes"). The Offer expired at 5:00 p.m., New York City time, on May 15, 2009
(the "Expiration Date").

As of the Expiration Date, $825,548,000 aggregate principal amount of
outstanding Notes had been validly tendered and accepted.

As announced on May 8, 2009, the purchase price is $1,035 per $1,000 principal
amount of the Notes tendered and accepted for payment. CBS will also pay
accrued and unpaid interest on the Notes accepted in the Offer up to, but not
including, the Settlement Date. The Settlement Date is expected to be May 18,
2009.

Banc of America Securities LLC, Citi and UBS Securities LLC acted as the
Dealer Managers for the Offer, Global Bondholder Services Corporation acted as
the Information Agent, and Deutsche Bank Trust Company Americas acted as the
Depositary. Questions regarding the Offer should be directed to Banc of
America Securities LLC at (888) 292-0070 (U.S. toll free) or (646)-855-3333
(collect), Citi at (800) 558-3745 (U.S. toll free) or (212) 723-6106
(collect), or UBS Securities LLC at (888) 719-4210 (U.S. toll free) or (203)
719-4210 (collect).

This press release is for informational purposes only and is not an offer to
buy or the solicitation of an offer to sell with respect to any securities.
The solicitation of offers to buy the Notes is only being made pursuant to the
terms of the Offer to Purchase and the related Letter of Transmittal. The
Offer is not being made in any jurisdiction in which the making or acceptance
thereof would not be in compliance with the securities, blue sky or other laws
of such jurisdiction.

DISCLOSURE NOTICE: The information contained in this release is as of May 18,
2009. Except as required by law, CBS Corporation does not assume any
obligation to update any forward-looking statements contained in this release
as a result of new information or future events or developments. Some
statements in this release may constitute forward-looking statements. CBS
Corporation cautions that 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. A list and
description of risks and uncertainties can be found in CBS Corporation's
Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and in
its reports on Forms 10-Q and 8-K.

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 Television Studios 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.

SOURCE CBS Corp.

Dana McClintock, +1-212-975-1077, dlmcclintock@cbs.com, or Andrea Prochniak,
+1-212-975-0053, andrea.prochniak@cbs.com, or Investor Relations: Adam
Townsend, +1-212-975-5292, adam.townsend@cbs.com, or Debra Wichser,
+1-212-975-3718, debra.wichser@cbs.com, all of CBS Corp.