In a move that will significantly expand its international channels, CBS Studios International and Chellomedia have announced a new agreement to create CBS-branded channels from Chello Zone's existing entertainment channels reaching 43 million subscribers in 83 territories across Europe, the Middle East and Africa.
The new partnership builds on U.K. venture for CBS-branded channels that the two companies launched in November of 2009.
Similar to the U.K. venture, channels from Chellomedia's international broadcaster division, Chello Zone, will be rebranded and reprogrammed as CBS Reality, CBS Drama and CBS Action using content from CBS's library of over 70,000 hours of content as well as third party suppliers.
CBS will have a 30% stake in the channels, which will continue to be operated by Chello Zone. With the new territories, CBS's international channel ventures will reach a total of 105 million households.
"This is another terrific international business opportunity using CBS's wealth of content and globally recognized brand for equity in an exciting growth venture," noted CBS Studios International president Armando Nuñez in a statement, who also noted that the venture combined their large library of content with Chello's expertise in operating international channels.
"It opens yet another new international distribution outlet for our vast programming library, provides another way to monetize our content and complements our strong ongoing licensing of programming around the world," he added.