CBS, Time Warner Cable reach agreement
CBS and Time Warner have reached an agreement on fees for carriage of the network's stations on Time Warner Cable systems across the country.
CBS programs are scheduled to begin airing on Time Warner beginning today at 3 p.m. PST.
The two companies have not yet disclosed the details of the arrangement, but CBS CEO Leslie Moonves announced in an email to employees that the deal had been completed.
"I am pleased to inform you that this evening we concluded our content carriage agreement with Time Warner Cable," he wrote. "The final agreements with Time Warner Cable deliver to us all the value and terms that we sought in these discussions. 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."
Time Warner CEO Glenn Britt released a similar, if somewhat chagrined statement, in which he called on the FCC and lawmakers to revisit the 1992 retransmission consent rules which stipulate that cable outlets must get permission from broadcasters before carrying their programming.
"While we certainly didn’t get everything we wanted," he said. "Ultimately we ended up in a much better place than when we started."
For the past several weeks, Time Warner Cable subscribers in the Los Angeles area have been without KCBS, KCAL, Showtime and some other channels. The two companies had been in a dispute over the fees the cable giant will pay the broadcast network to carry stations CBS owns in Los Angeles, New York and Dallas.
This story has been updated