Time Warner and Viacom reach programming agreement before feared blackout could occur.
Wired PR News.com – Programming giant Viacom and cable powerhouse Time Warner have reached a compensation agreement just in time to prevent a threatened blackout for Time Warner cable subscribers. As reported by the Associated Press (AP), the two companies came to a resolution for a previous disagreement over a fee increase for Time Warner, which would have added approximately $39 million to the purported $300 million the company pays yearly to Viacom.
As noted by the AP, Viacom had begun an advertising campaign warning cable customers of the possibility of losing access to favorite programs such as “Dora the Explorer” and “SpongeBob SquarePants,” prior to reaching the agreement, which motivated some to voice concerns to Time Warner. Specific details about the agreement had yet to be disclosed at the time of the report.
Time Warner Cable Inc. CEO, Glenn Britt is quoted as stating, “We are pleased that our customers will continue to be able to watch the programming they enjoy on MTV Networks…We are sorry they had to endure a day of public disagreement as we worked through this negotiation.”
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