Conversely, Time Warner Cable investors would like to see pay-TV providers having some success in pushing back against the likes of a CBS. The failure to do so could accelerate consolidation among pay-TV companies. Time Warner Cable reports its second-quarter earnings on Thursday before the start of regular trading.

Moonves took a stab at Aereo, the upstart online company that is streaming over-the-air network television, calling the service "illegal." "We don't think it is catching on at all," he said.

Written by Leon Lazaroff in New York

>To contact the writer of this article, click here: LeonLazaroff.>.

If you liked this article you might like

Comcast Dodges Big Social, Moves Watchable In-House

Rolling Stone Stake Could Fetch as Much as $80 Million

Hulu Threatens Landmark Networks With Prestigious Emmy Win

Weekend Box Office: 'Mother!' Flops With F Rating, 'It' Smashes Records

Why Entercom Communications Is a Buy: Cramer's Top Takeaways