Long Term Agreement Reached Between Verizon & Turner Broadcasting

Turner Broadcasting And Verizon Reach Long-Term Distribution Agreement

Multi-year Renewal to Provide Turner's Entire Portfolio of Networks, Including CNN, TBS, TNT and Cartoon Network, to Verizon FiOS TV Subscribers Across a Multitude of Screens Inside and Out of the Home

Turner Broadcasting System, Inc. and Verizon today announced a comprehensive long-term distribution agreement that will deliver content from Turner's leading portfolio of networks to FiOS TV customers, across a variety of screens, including television, PC, tablet and handheld devices. Terms of the agreement were not disclosed.

As part of the agreement, FiOS TV subscribers will receive a robust offering of on-demand programming, as well as live streaming of all major Turner networks that can be viewed in and out of the home across multiple devices, enabled by expansive TV Everywhere rights that provide subscribers more opportunities and easier access to authenticated content.

FiOS TV and FiOS Internet customers will ultimately have easier, instant access to Turner brands through an automatic login, providing a seamless and consumer-friendly experience on both Turner's and Verizon's platforms.

The new agreement provides the more than 5 million Verizon FiOS TV subscribers with a broad array of diverse, entertaining and informative content from Turner's award-winning and popular entertainment, kids, news, sports and young adult programming. The Turner networks covered by the agreement are: CNN, HLN, TNT, TBS, Cartoon Network/Adult Swim, truTV, Turner Classic Movies (TCM), CNN International, CNN en Español and Boomerang. FiOS subscribers will continue to enjoy award-winning news and information from CNN including New Day and Crossfire; marquee sports programming offered by TBS and TNT, such as the MLB Postseason on TBS and the NCAA(R) Division I Men's Basketball Championship; TBS's Cougar Town, Sullivan & Son and CONAN; TNT's Rizzoli & Isles, Falling Skies and Mob City; and Cartoon Network's Primetime Emmy-winning Regular Show and Adventure Time.

"We are extremely pleased to have reached this comprehensive agreement with Verizon, one of the largest and fastest-growing content distributors in the country," said David Levy, President of Turner Broadcasting System, Inc. "This agreement between our two companies represents another renewal with a leading distributor for our valuable content across our expansive portfolio of networks, and further enhances our mutual goal to deliver premium video content to our respective subscribers and viewers across a variety of screens."

Terry Denson, Vice President of Content Strategy and Acquisition at Verizon, said, "FiOS TV customers will enjoy the wide variety of content from across all major Turner networks on TV and a growing base of digitally connected devices. Our agreement helps ensure consumers will soon be able to watch Turner content live and on demand, and both inside and outside of the home, with our FiOS Mobile App and our FiOS TV Online website."

About Turner Broadcasting

Turner Broadcasting System, Inc., a Time Warner company, creates and programs branded news; entertainment; animation and young adult; and sports media environments on television and other platforms for consumers around the world. Turner brands and businesses include CNN/U.S., CNN International, CNN.com and HLN; TBS, TNT, truTV and Turner Classic Movies; Cartoon Network, Boomerang and Adult Swim; and Turner Sports.

About Verizon

Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, with more than 100 million retail connections nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries. A Dow 30 company with nearly $116 billion in 2012 revenues, Verizon employs a diverse workforce of 180,900. For more information, visit about.verizon.com.

About FiOS

With more than 50,000 on-demand movies and TV shows available each month, FiOS TV offers more VOD choices than any of its cable competitors. Verizon customers enjoy the Internet at speeds many times over the national average, and have the option of six SPEED tiers from which to choose starting at 15/5 megabits per second (Mbps) to faster FiOS Quantum speeds of 50/25 mbps to 75/35, 300/65 and the recently introduced 500/100 service.

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