Netflix and CBS ink streaming deal

NEW YORK, Feb. 23 (UPI) -- CBS Corp. and Netflix have announced a two-year, non-exclusive licensing agreement that allows select U.S. shows from CBS's library to be streamed on Netflix.

The deal pertains to episodes of the dramas "Medium" and "Flashpoint," as well as full seasons of sitcoms such as "Family Ties," "Frasier" and "Cheers." Installments of the original "Hawaii Five-0" are included in the package, as are episodes from all generations of the sci-fi series "Star Trek" and the cult favorite, "Twin Peaks." Installments of '60s classics such as "The Twilight Zone" and "The Andy Griffith Show" will be available, too.

CBS said it retains an option to extend the agreement for up to two additional years.

Terms of the deal were not disclosed.

Beginning in early April, the shows from CBS will be included in the library of programs subscribers can watch instantly from Netflix for $7.99 a month.

"This deal recognizes the increasing value of our content in today's marketplace," Scott Koondel, president of distribution for CBS Television Distribution, said in a statement Tuesday. "More and more, people want to be able to access our programming on a wide variety of platforms. We are very pleased that the titles offered through this deal will now also be made available to a whole new community through the terrific and convenient service that Netflix offers."

"Netflix is now the only online premium subscription service with shows featured on all four broadcast networks and dozens of cable TV's biggest brands," added Ted Sarandos, chief content officer for Netflix.