August 7, 2017 / 2:23 PM / 2 years ago

CBS signs with AT&T to stream networks on DirecTV Now

A woman looks at her mobile next to AT&T logo during the Mobile World Congress in Barcelona, Spain February 25, 2016. REUTERS/Albert Gea/File Photo

(Reuters) - CBS Corp said on Monday it signed a deal for its shows to feature on AT&T Inc’s DirecTV Now online streaming service.

Under the agreement, DirecTV Now will stream CBS, CBS Sports, the CW channel and many of CBS’ local broadcast stations, according to the company. Customers will also have the option to buy a subscription to CBS’ premium Showtime network.

AT&T will pay CBS for its content, helping the TV network shift its revenue stream away from advertising as more viewers watch their favorite shows online.

Last year, CBS signed similar deals with Hulu and Alphabet Inc’s Google to be included in their streaming video services.

Earlier this year, CBS announced a deal with Verizon Communications Inc to distribute its content.

The New York-based broadcaster, which owns the most widely viewed U.S. television network, said much of the programming of the channels under the deal would also be available on-demand. Financial terms of the agreement were not disclosed.

“For any bundle to be truly successful, CBS is must-have content,” said Ray Hopkins, head of CBS Corp’s TV networks distribution.

Reporting by Laharee Chatterjee and Jessica Toonkel; Editing by Saumyadeb Chakrabarty and Bill Rigby

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