CBS Corp. has confirmed that it has reached a new broadcasting rights agreement with Time Warner Cable. This will bring an end to the month-long blackout of the network's shows in several profitable markets in the U.S.
The news was confirmed on Monday and program resumed as early as 6:00 p.m. ET. The companies have not yet disclosed any of the information regarding the new terms of their agreement. The retransmission contract will spell out the amount of money that TWC pays CBS for the rights to broadcast and carry the CBS-owned stations, according to USA Today.
"The final agreements with Time Warner Cable deliver to us all the value and terms that we sought in these discussions," wrote CBS' CEO Leslie Moonves in an e-mail sent the company's employees. "This has been a difficult time for our viewers and for CBS. I am glad it's behind us. It's good to be back."
The new broadcasting agreement includes rights of the cable networks that are owned by CBS Corp. This includes Showtime, CBS Sports and the Smithsonian Channel.
The disagreement stemmed from contract negotiations, which became necessary after CBS' retransmission ocontract expired at the end of June. CBS stations were kept on TWC's lineup as they kept delaying deadlines for a new deal. Finally, on Aug. 2, TWC dropped CBS' stations after thye were unable to reach an agreement by their self-imposed deadline. As a result, nearly 3 million TWC customers in eight markets have been unable to watch the nation's number one primetime network since.
As expected by many, a deal was made just in time for the NFL regular season, which begins on Sept. 5. The games are a huge ratings boost for both sides in the contract debacle. While no information regarding the terms of the deal have been met, viewers can take solace in the fact that the shows and channels they love are not longer blacked out.
"We're pleased to be able to restore CBS programming for our customers, and appreciate their patience and loyalty throughout the dispute," said Time Warner Cable CEO Glenn Britt, in a statement. "While we certainly didn't get everything we wanted, ultimately we ended up in a much better place than when we started."
