Les Moonves Hits Time Warner Cable, Says Customers Could Lose CBS Thursday
Posted in: Uncategorized
At the heart of the argument, Time Warner Cable claims CBS wants to charge fees 600% higher than it pays for the same programming in smaller markets.
In the memo, Mr. Moonves says Time Warner Cable has the money to pay higher fees.
“Cable is a very, very profitable business, and Time Warner Cable can certainly afford to pay CBS a fair rate for our programming without passing any added cost on to its customers,” he wrote. “According to its own billing statements, it is already charging its subscribers more than $20 a month for broadcast programming. CBS only realizes a tiny fraction of that, as do other broadcasters, and our costs for programming, news operations and sports contracts are growing all the time. In order to invest in this premium content, we need to be paid fairly for it. Yet we receive far less than channels that have nowhere near our popularity.”
Post a Comment