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TheStreet Open House

Time Warner Cable Reaches Agreement With CBS

Stocks in this article: TWC

Time Warner Cable and CBS Corporation have reached an agreement that will return CBS programming to Time Warner Cable and Bright House Networks customers in the next 24 hours.

Glenn Britt, Time Warner Cable’s Chairman and Chief Executive Officer, made the following statement: “We’re pleased to be able to restore CBS programming for our customers, and appreciate their patience and loyalty throughout the dispute. 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. We are also encouraged by the 50+ consumer organizations and legislators that supported our call for Congress and the FCC to reassess the 1992 retransmission consent rules. The rules are woefully out of date, are the primary reason cable bills are rising, and too frequently leave our customers without the programming they love. We sincerely hope that policymakers heed that call and take action to prevent these unfortunate blackouts soon.”

For more information, customers can visit www.twcconversations.com.

About Time Warner Cable

Time Warner Cable Inc. (NYSE:TWC) is among the largest providers of video, high-speed data and voice services in the United States, connecting more than 15 million customers to entertainment, information and each other. Time Warner Cable Business Class offers data, video and voice services to businesses of all sizes, cell tower backhaul services to wireless carriers and managed and outsourced information technology solutions and cloud services. Time Warner Cable Media, the advertising arm of Time Warner Cable, offers national, regional and local companies innovative advertising solutions. More information about the services of Time Warner Cable is available at www.twc.com, www.twcbc.com and www.twcmedia.com.

Copyright Business Wire 2010

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