CBS Television and Time Warner Cable have reached a carriage agreement, CBS Corporation’s CEO and President Leslie Moonves announced Monday.
Moonves issued the following statement via email following the resolution to the weeks-old dispute between the two companies that kept CBS programming off the air in L.A., New York and Dallas-Fort Worth.
“I am pleased to inform you that this morning we concluded our content carriage agreement with Time Warner Cable. Effective immediately, CBS will be back on the Time Warner Cable systems in New York, Los Angeles and Dallas, and Showtime will be available to their subscribers across the nation. All other disruptions to our viewers will cease, and things will go back to normal, with a new and beneficial agreement in place.
This was a far more protracted dispute than anyone at CBS anticipated, but in spite of the pain it caused to all of us, and most importantly the inconvenience to our viewers who were affected, it was an important one, and one worth pursuing to a satisfactory conclusion. That has been achieved. 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.
I want to take this opportunity to thank all of those who worked so diligently – around the clock in many cases – to produce this excellent outcome. Thanks go to our Chief Operating Officer, Joe Ianniello, who spearheaded the negotiating efforts, and to Ray Hopkins, our new President of Television Distribution, who was our chief negotiator. Supporting their efforts were the tireless teams at Law, Marketing, Communications and virtually every other department in our company, all of whom came together to make sure this important job was done right. Our thanks to them all.
This has been a difficult time for our viewers and for CBS. I am glad it’s behind us. After a terrific summer of programming, we now all look forward to the new television season. It’s good to be back.
CBS programming in the affected areas is set to resume at 3 p.m. PT Monday.