CBS wants to be paid 600% more than other companies that Time Warner broadcast. CBS Chief Executive Officer Leslie Moonves told Time Warner that “the sky is the limit” for what he claims are fair prices for CBS broadcasting rights.
“He doesn’t seem to care about our customers’ budgets or the going rates for CBS programming.” Maureen Huff, a spokeswoman for Time Warner, told Bloomberg.
If the two companies don’t make a deal by July 24, then shows like The Big Bang Theory and Under the Dome could disappear from Time Warner services in areas such as New York, Los Angeles and Dallas.
TWC Shares were up 3% as of writing Friday, continuing a 31% year-to-date increase. CBS shares were down 1% as of writing Friday, but have increased 65% in the last year.