Time Warner Cable and Viacom Reach Agreement in Principle

January 8, 2009

By Jennifer Hull

Time Warner Cable and Viacom jointly announced that the two companies have reached an agreement in principle for Time Warner to continue to air Viacom’s MTV Networks on all of its cable systems. The companies plan to finalize the details of the agreement over the next several days.

Agreement Reached Despite Viacom Ads

The agreement comes following a spate of print media ads from Viacom suggesting its channels had been pulled from Time Warner Cable service. Due to the timing of the agreement and the New Year's Day holiday, Viacom was unable to pull the ads from in New York, Cleveland, Orlando, Dallas, and Raleigh.

Statements from Viacom and Time Warner Cable

Philippe Dauman, President and CEO of Viacom said, "We've been partners with Time Warner Cable for a long time, and we're happy to be renewing that partnership for the benefit of their customers and our loyal viewers. It's gratifying that we could reach an agreement that benefits not only our audiences but that is also in the best interest of both of our companies."

Glenn Britt, president and CEO of Time Warner Cable said, "We are pleased that our customers will continue to be able to watch the programming they enjoy on MTV Networks. We are sorry they had to endure a day of public disagreement as we worked through this negotiation."

About Viacom

Viacom is a leading global entertainment content company offering its customers television, motion pictures, and a wide range of digital media. The company’s best known brands include MTV Networks, BET Networks, Paramount Pictures, and Paramount Home Entertainment.