For CBS, the BBC deal replaces a previous arrangement it had with Sky, which is being acquired by 21st Century Fox, pending regulatory approval. For BBC News, CBS replaces a deal it had with Walt Disney Co's ABC.
The partnership will enable both news organizations to strengthen coverage of complex international situations such as the crisis in Syria and Iraq, said David Rhodes, president of CBS News.
The deal also gives BBC more resources to cover the United States, particularly the Donald Trump presidency, in which there was a lot of international interest, he said.
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