Time Warner Cable and CBS have reached a pact in their fee dispute. CBS Corp. confirms that it has reached a new broadcasting rights agreement with the cable operator, ending a blackout of the network's shows which began on August 2. CBS' programming resumed at 6 P.M. on Monday, September 2 in the affected markets, just in time for the regular season of NFL which will begin airing on the Eye September 8.
"The final agreements with Time Warner Cable deliver to us all the value and terms that we sought in these discussions," CBS Corp. head Les Moonves says in an e-mail to the company's employees. "We are receiving fair compensation for CBS content and we also have the ability to monetize our content going forward on all the new, developing platforms that are right now transforming the way people watch television."
TWC's CEO Glenn Britt also issues a statement, saying, "We're pleased to be able to restore CBS programming for our customers." He adds, "As in all of our negotiations, we wanted to hold down costs and retain our ability to deliver a great video experience for our customers. While we certainly didn't get everything we wanted, ultimately we ended up in a much better place than when we started."
Details of the agreement are not disclosed but TWC now picks up broadcasting rights of the cable networks owned by CBS Corp., such as Showtime Anytime and VOD, which were not previously available to TWC subscribers.
TWC and CBS' old contract expired in June, but the cable operator kept the network's programs while they were negotiating a new deal. It wasn't until early August that TWC dropped the CBS stations.
TWC reportedly didn't agree with CBS' demands for a subscriber increase from $1 to about $2, arguing that the network's programming is still free over the air and online. However, the statement recently released by the cable operator indicated that CBS got the big increase that it wanted.