CBS and Home Box Office entered an agreement to jointly create new programming for the broadcast TV audience. Under the two-year agreement, HBO will develop prime-time series for broadcast on CBS through HBO Independent Productions and original films from HBO Pictures. CBS Entertainment will have a "first look" at all programming developed for broadcast TV by HIP and will own all non-network distribution rights to any program it orders.
HIP will be able to pursue other outlets for series not ordered by CBS, although CBS will remain a part of those transactions. CBS will also purchase rights to at least two HBO original films for broadcast on the network following their HBO premiere.