CBS Buys Stake in TV-Streaming Firm

CBS has taken a minority investment in Syncbak, a company that allows local-TV stations to stream programming to consumers over the Web, a move that comes as broadcasters are fighting unauthorized Internet distribution of their content. Syncbak, founded in 2009 by Jack Perry, has created a technology to deliver broadcast-TV signals to tablets and smartphones. The service isn't yet commercially available. It is being tested by more than 100 local-TV stations in 70 markets. CBS didn't disclose the amount of its investment or size of the stake. The company's other strategic investors include the National Association of Broadcasters and the Consumer Electronics Association.