Revenue sharing terms were not disclosed, but The Wall Street Journal recently reported that the broadcaster was aiming to take a 90% share.
The 10 partners which will carry the network are: , , Veoh, Brightcove, Joost, CNET Networks, Sling Media, Netvibes and social networking site .
The programming on the channel will have been previously aired in the US and will only be available in the US, except for some clips and full-length sports programming being available worldwide.
CBS may also bring in social networking site as a partner. Its initiative comes after it emerged last month CBS and other US broadcasters were in talks with News Corporation about licensing their content for distribution on MySpace.
News Corp, which owns the Fox network in addition to MySpace, was reported to be negotiating with NBC, CBS and MTV owner Viacom.
This initiative is aimed at countering the popularity of video-sharing site , which was bought by internet giant Google in October last year.
Although CBS has in the past signed deals with YouTube, the video sharing site is notably not on the list of CBS Interactive Audience Network distributors.
In March, CBS's sister company Viacom hit YouTube with a $1bn copyright infringement lawsuit claiming YouTube uses its content, including 'South Park', without permission.
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