CBS Corporation operates businesses which span the media and entertainment industries. The Company operates in four segments. The Entertainment segment includes the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Films, and CBS Interactive. The Cable Networks segment includes Showtime Networks, the Company's subscription program services; CBS Sports Network, the Company's cable network focused on college athletics and other sports; and Smithsonian Networks, which operates Smithsonian Channel, a basic cable program service. The Publishing segment is composed of Simon & Schuster, which publishes and distributes consumer books. The Local Broadcasting segment includes CBS Television Stations, the Company's 30 owned broadcast television stations, and CBS Radio, through which the Company owns and operates 126 radio stations in 27 United States markets.

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