CBS Corporation is launching CBS Records with an emphasis on digital distribution through new media channels and cross-platform promotion.

The company also announced that it plants to make content and music-related content from CBS Records available for purchase and download at Apple iTunes Store.

"CBS is one of the most powerful entertainment brands in the world, and music represents a natural and complementary extension of our content assets. With more consumers choosing the online download model as the preferred way to purchase their favorite songs, we have an opportunity to use our unique and broad collection of media platforms to create a new music label paradigm for a small price of admission," says Leslie Moonves, president and CEO, CBS Corporation.

CBS also says that music videos and other music-related content will be streamed on CBS's broadband channel "innertube," which offers a wide range of free content to internet users.