CBS Studios International and Australia's Ten Network have proposed creating a joint venture, ElevenCo, to program a new, younger-targeted Australian TV channel, Eleven, which will tap into the CBS library.
Ten Network Holdings will own two-thirds of the new venture and CBS one-third.
CBS will also extend a pre-existing output deal with Ten Network as part of the proposed joint venture, which will need approval from Australian regulators.
The new channel will have access to 70,000 hours of CBS library product, including Everybody Loves Raymond, Sex and the City, Frasier and JAG. It will also feature episodes of The Simpsons, Futurama, The Cleveland Show and 90210.
The channel is slated to launch in early 2011.