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CBS Stock Climbs, Developing New 'Star Trek' TV Series

NEW YORK (TheStreet) -- CBS (CBS - Get Report) stock is up by 2.75% to $47.80 in late afternoon trading on Monday, after announcing it will premiere a new "Star Trek" TV series in January of 2017.

The show will broadcast a special preview on CBS's television network, but will thereafter run exclusively on CBS All Access, the network's $5.99 per month streaming service.

Alex Kurtzman, who co-wrote and produced the 2009 "Star Trek" and 2013 "Star Trek into Darkness" films, will be the executive producer of the show.

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Viewers have been leaving major networks such as CBS, Walt Disney's (DIS) ABC and Viacom's (VIAB) Nickelodeon and MTV in favor of online streaming services such as Netflix (NFLX) and Amazon (AMZN), Bloomberg reports.

Beyond promoting CBS All Access, the new show might bring in enough revenue from abroad to outweigh a potentially small online-only audience in the U.S., according to the Wall Street Journal.

Additionally, CBS will report 2015 third quarter earnings results after the market close on Tuesday. Analysts have forecast for earnings of 81 cents per share on...


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