UPDATED: CBS and Time Warner Cable reach agreement

** UPDATED @ 7 p.m. CT **

Variety reports that the deal as struck didn't give CBS everything it wanted, nor did it give TWC everything it wanted, but both sides are calling it "fair" and that the two sides are in "a better place than when we started."

“The final agreements with Time Warner Cable deliver to us all the value and terms that we sought in these discussions,” CBS head Les Moonves wrote in a memo to CBS staffers. “We are receiving fair compensation for CBS content and we also have the ability to monetize our content going forward on all the new, developing platforms that are right now transforming the way people watch television.”

“As in all of our negotiations, we wanted to hold down costs and retain our ability to deliver a great video experience for our customers,” Time Warner Cable boss Glenn Britt said. “While we certainly didn’t get everything we wanted, ultimately we ended up in a much better place than when we started.”

PREVIOUSLY: After a nearly month-long blackout affecting millions of viewers nationwide, CBS Corporation and Time Warner Cable and Bright House Networks have reached an agreement for carriage of CBS-owned stations on Time Warner Cable systems across the country, as well as Showtime Networks, CBS Sports Network and Smithsonian Channel, the companies announced this afternoon.

Programming on all networks will resume at 5 p.m. CT (6 p.m. ET) today.

Though specific terms of the deal are not being disclosed, the agreement includes retransmission consent, as well as Showtime Anytime and VOD, for CBS stations on Time Warner Cable systems in New York (WCBS and WLYW), Los Angeles (KCBS and KCAL) and Dallas (KTVT and KTXA.)
  • A tip o' the JDTVB baseball cap to Blaine Thompson for the tip!

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