CBS's Showtime Expected To Announce Stand-alone Streaming Service: Variety

CBS Corp. is expected to announce, as early as Wednesday, that its Showtime Networks subsidiary will offer a broadband-only offering that bypasses cable networks, according to a Variety report. CBS is expected to announce a distribution pact with Apple Inc.'s Apple TV service, the report said, citing industry sources, with plans with other distribution partners expected to come soon after. The move would come two months after the announcement by Time Warner Inc. that its Home Box Office unit would offer a stand-alone streaming service called HBO Now. CBS's stock was up 1% in midday trade Wednesday, and has run up 13% in 2015, compared with a 2.9% gain in the S&P 500.