Sunnyvale, CA and New York, NY – December 3, 2008 – Yahoo! and CBS RADIO today announced they have entered into an agreement in which CBS RADIO will power Yahoo! Music’s LAUNCHcast Radio.  The agreement unites two of the largest online radio providers and expands the breadth of free music, news, talk and sports content available to millions of Yahoo! users.

Beginning in early 2009, LAUNCHcast’s 150 stations and more than 150 CBS RADIO stations will be combined, with CBS RADIO assuming sales responsibility for the entire portfolio.  A newly-created CBS RADIO player will be integrated into the Yahoo! Music site and for the first time, LAUNCHcast will be available to Firefox, Mac and Safari users.  In addition, Yahoo! News and Sports will incorporate dedicated CBS RADIO players into their respective sites, featuring a wide range of local and top-rated sports, news and talk stations including WFAN (New York), KNX-AM (Los Angeles) and WPHT-AM (Philadelphia), respectively.

“LAUNCHcast powered by CBS RADIO expands Yahoo!’s extensive media portfolio, which already includes many of the leading print and video providers in each category, to include one of the largest providers of radio on the internet,” said Jimmy Pitaro, vice president Yahoo! Sports and Entertainment.  “Our agreement with CBS RADIO will deliver internet radio’s most comprehensive and diverse collection of music, news and sports programming to Yahoo!’s massive audience.”

“CBS RADIO has clearly demonstrated its commitment to streaming media - one of the hottest spaces on the web – and this announcement along with our relationship with Last.fm, and other distribution partnerships, reinforces our Company’s position as the No.1 internet radio company in the world,” said David Goodman, President, Digital Media and Integrated Marketing, CBS RADIO.  “LAUNCHcast Radio stations have grown a sizeable and loyal following and we’re thrilled to expose them to an ever greater depth of content offerings. Partnering with Yahoo! ensures advertisers will be able to reach the greatest possible audience as we leverage our local and national sales force, as well as TargetSpot, to create distinctive campaigns and one of a kind integrated opportunities.”

About CBS RADIO

CBS RADIO, one of the largest major-market operators in the United States with stations covering news, sports, talk, rock, oldies, country, adult contemporary and urban formats, among others, offers audiences an enhanced and customized listening experience through the combination of on-air, online and new media platforms. CBS RADIO operates 140 radio stations throughout the nation’s top 50 markets and broadcasts play-by-play coverage of 26 of the country’s leading professional sports franchises. CBS RADIO also has embraced interactive programming through the use of streaming, HD Radio, podcasts and mobile messaging. The division maintains an agreement with AOL Radio through which CBS RADIO powers AOL Radio and distributes its stations to its network of listeners. Home to the nation’s most listened to news (1010 WINS), sports (WFAN-AM), rock (KROQ-FM) and country (WUSN-FM) stations, CBS RADIO is a division of CBS Corporation. For more information on CBS RADIO, please visit www.cbsradio.com.

About Yahoo!
Yahoo! Inc. is a leading global Internet brand and one of the most trafficked Internet destinations worldwide. Yahoo! is focused on powering its communities of users, advertisers, publishers, and developers by creating indispensable experiences built on trust. Yahoo! is headquartered in Sunnyvale, California. For more information, visit pressroom.yahoo.com.