CBS chief Les Moonves has said that his company would work with Netflix in other countries. Still, this deal confirms “CBS’ ability to successfully monetize its library,” says Wells Fargo analyst Marci Ryvicker, who forecasts it will add 6 cents to CBS’ earnings per share beginning next year.

NEW YORK and BEVERLY HILLS, Calif. – July 27, 2011 — CBS Corporation [NYSE: CBS.A and CBS] and Netflix, Inc. [Nasdaq: NFLX] today announced a two-year, non-exclusive international licensing agreement that will enable certain television shows from across CBS Corporation to be streamed instantly to Netflix subscribers in Canada and Latin America. The agreement follows a separate domestic deal announced between the two companies in February. Terms of the deal were not disclosed.

Beginning in September, and for only $7.99 a month, Netflix members in Canada will be able to enjoy both the current and complete back seasons for CW hit “90210,” as well as past seasons of critically lauded fan favorites from SHOWTIME such as “Californication,” “Dexter,” and “The United States of Tara.” Canadian members will also have access to a broad range of CBS library programming, including “Numb3rs,” “Sleeper Cell,” and “Twin Peaks.”

Netflix announced in early July that it would be launching in 43 countries across Mexico, South America and the Caribbean later this year. Under this new deal with CBS, previous seasons of series, including “90210,” “Medium,” “Nurse Jackie,” “Californication” and “Dexter,” will be available for Latin American members to watch instantly, as will a broad range of library titles, including the original “Star Trek,” “Star Trek: The Next Generation,” “Charmed,” and “Twin Peaks.”

“We are pleased to be partners with Netflix as they rollout their superb service to new markets,” said Armando Nunez, President, CBS Studios International. “This new arrangement—which does not compete with U.S. ratings or SHOWTIME’s domestic subscriber base—underscores the popularity of CBS content around the world, and illustrates yet another meaningful way for us to realize incremental value from our vast library of content.”

“We are delighted to be expanding our successful relationship with CBS to our newer markets in Canada and Latin America,” said Ted Sarandos, Chief Content Officer of Netflix. “We aim to provide the widest possible range of great TV shows so our members can always find something compelling to watch wherever and whenever they want.”