Fox Networks and Time Warner Cable announced an agreement Friday that will avert the disruption of Fox network programming to 15 million subscribers of Time Warner Cable and an affiliated company.
The agreement, the terms of which were not disclosed, was announced several hours after a midnight deadline and just before Fox was to air the Sugar Bowl football game between Cincinnati and the University of Florida.
"We're pleased that, after months of negotiations, we were able to reach a fair agreement with Time Warner Cable -- one that recognizes the value of our programming," said Chase Carey, deputy chairman of News Corp., in a statement.
"We're happy to have reached a reasonable deal with no disruption in programming for our customers," said Glenn Britt, chairman of Time Warner Cable.
Time Warner Cable and News Corp. (NWS, Fortune 500), Fox's parent company, had been locked in a public battle over how much the cable giant should pay for the right to deliver Fox networks into its subscribers' homes.
If a deal hadn't been reached, all of the Fox-owned broadcast networks and some of its cable channels would have disappeared for most of Time Warner Cable's 13 million subscribers, affecting broadcasts in cities such as New York, Los Angeles and Dallas. Also affected would have been 2 million subscribers of Bright House Networks, with operations in 5 states including central Florida.
Source: CNN Money | Julianne Pepitone
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Very nice post. Do you accept guest writers?