December 26, 2013
Time Warner Cable and Viacom Inc., parent of popular channels MTV, Nickelodeon and Comedy Central, have renewed their long-term distribution agreement.
The current contract between the two media powerhouses was due to expire at the end of the year. However, the talks went smoothly and neither side felt the need to go public with negotiations and run ads attacking each other. That scenario has often played out for consumers.
"We're pleased to have reached agreement in advance of our deadline," said Melinda Witmer, Time Warner Cable's executive vice president and chief video and content officer.
Under the terms of the deal, Time Warner Cable also agreed to offer Epix, the pay-TV movie channel that Viacom co-owns, to its subscribers. Epix carries movies from Viacom's Paramount Pictures.
Time Warner Cable has more than 12 million subscribers in the U.S. and is the largest pay-TV provider in New York City and Los Angeles. It also recently completed a distribution agreement with Tribune Co., owner of local TV stations around the country including KTLA-TV in Los Angeles. Tribune is the parent company of the Los Angeles Times. - Los Angeles Times
- CNNMoney: Dish and DirectTV hike prices for 2014
- Associated Press: Kansas firm buys Nebraska, Colorado cable TV systems
- PRWeb: LTE Solutions and Market Opportunities: Industry Trend, Size, Growth and Research Reports
- The Morning Call: Sale of WNEP-TV approved