Cuban will continue to lead the net as prexy and CEO. AXS, launched in July, is dedicated to broadcasting live events from the worlds of music and pop culture. It has 38 million subscribers.
Terms of the deal weren’t disclosed, but it was described as a multi-year commitment from CBS providing for promotion, access to content and programming and strategic support.
“CBS is happy to provide AXS.TV with live event content as the basis of this partnership,” said CBS chief exec Leslie Moonves. “This is an innovative way to use our tentpole programming to gain more ownership in the cable network business. AXS.TV will now serve as a terrific complement to our existing broadcast television entertainment programming.”
CBS brings “the industry’s best and most respected resources and experience to AXS.TV, which will accelerate our growth and realization of our vision that ‘the future of TV is TV,’ ” Cuban said.