Breaking Finance News

BREAKING- CBS/Time Warner Cable Postpone Cable Blackout

CNBC is reporting that CBS (NYSE: CBS) and Time Warner Cable (NYSE: TWC) have postponed the blackout of CBS Programming, including CBS Sports and Showtime. The agreement was extended through Friday.

The blackout would have been in the Dallas, Los Angeles, and New York markets only. The deadline for negotiations was set to run out at 8:00 p.m. EDT on Monday. Minutes before 8:00, the two companies announced that they had moved the deadline to 9:00. At 9:00, no announcement was made and service continues in affected markets.

Negotiations are ongoing for a new distribution agreement between the two companies. Time Warner believes that CBS is being greedy and CBS believes it is being paid less than other networks.

[stock-tools exchange="NYSE" symbol="CBS" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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