The Zacks Analyst Blog Highlights: CBS, Nexstar Broadcasting Group, Comcast, Cablevision Systems and Netflix

For Immediate Release

Chicago, IL – September 13, 2012 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include CBS Corporation ( CBS - Analyst Report ) , Nexstar Broadcasting Group Inc. ( NXST - Snapshot Report ) , Comcast Corporation ( CMCSA - Analyst Report ) , Cablevision Systems Corporation ( CVC - Snapshot Report ) and Netflix Inc ( NFLX - Analyst Report ) .

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Here are highlights from Wednesday’s Analyst Blog:

CBS Extends Affiliation Agreement

CBS Television Network, a wing ofCBS Corporation’s ( CBS - Analyst Report ) entertainment segment, recently announced that it has extended its affiliation agreement withNexstar Broadcasting Group Inc. ( NXST - Snapshot Report ) by an additional 6 years for eight stations which the latter owns and operates.

Due to its exposure in publishing, radio and television broadcasting, and outdoor billboard businesses, CBS remains highly susceptible to the advertising market. Thus, the deal is in sync with the company’s strategy of adding diverse revenue streams to season itself against economic cycles.

CBS remains well positioned to drive revenue growth in the coming quarters through its strategic initiatives and operating efficiencies. Management remains optimistic and expects growth momentum to continue in fiscal 2012 based on reverse compensation from affiliates, strong demand for its content and streaming, retransmission consent and political advertising. Management expects reverse compensation to surpass $100 million in 2013.

The retransmission and affiliate fees generated from CBS’s cable and satellite partners for retransmitting broadcast programming have been another source of revenue. This is also evident from the company’s long-term programming deal with the cable operator,Comcast Corporation ( CMCSA - Analyst Report ) , whereby the latter will retransmit the signals of CBS television network, the Showtime Networks and CBS College Sports, across its array of platforms, to meet consumers’ growing demand for TV, Video on Demand and online content.

Earlier, in a similar move, CBS Corporation had announced the renewal of the content carriage agreement withCablevision Systems Corporation ( CVC - Snapshot Report ) , a leading media and telecommunications company.

Moreover, CBS secured deals worth hundreds of millions, including a two-year deal withNetflix Inc ( NFLX - Analyst Report ) . These measures back CBS’s strategy of generating revenue from shows that have already been broadcasted on TV years ago and facilitating the company in capitalizing on its content.

Further, CBS Corporation’s long-term agreements with the NFL, the NCAA, the SEC and the Grammy’s will generate a steady stream of positive cash flow for the company in the long run.

Currently, we have a long-term Outperform rating on the stock. Moreover, CBS Corp. holds a Zacks #2 Rank, which translates into a short-term Buy rating.

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