CBS Blackout on Time Warner Cable Averted Last-Minute

The two companies have until Friday to make a deal.

   

CBS Blackout on Time Warner Cable Averted Last-Minute

CBS185 CBS Blackout on Time Warner Cable Averted Last MinuteMillions of Time Warner Cable (TWC) subscribers in large cities such as New York and Los Angeles lost CBS (CBS) channels Monday night.

After a full day of negotiations Time Warner imposed a blackout of CBS station at midnight. Included in the blackout was Showtime, TMC, Flix, Smithsonian and other CBS owned channels. Time Warner lifted the blackout at CBS’ request. The blackout lasted for about half an hour, reports The New York Times.

Both sides were blaming each other for a deal not being reached.

“The outrageous demands for fees by CBS Corporation have forced Time Warner Cable to remove several of its networks and broadcast stations from our customers’ lineups,” Time Warner told NYT. “Sooner or later CBS will threaten others and go dark.”

“In spite of all our efforts to hammer out a fair agreement, Time Warner Cable has dropped CBS and Showtime from its channel lineup effective midnight,” CBS told NYT. “Meanwhile, they continue to engage in a public campaign of disinformation and voodoo mathematics (featuring wildly inflated percentages) while doggedly restating their positions.”

A new deadline for the companies to reach an agreement has been set for 5 p.m. on Friday, reports NYT.

Time Warner claims that CBS wants to be paid 600% more than other companies that the service broadcast.


Article printed from InvestorPlace Media, http://investorplace.com/2013/07/cbs-blackout-on-time-warner-cable-averted-last-minute/.

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