News Corp, Time Warner strike deal on Fox TV relay
02 Jan 2010
Media giant News Corp struck a new deal with Time Warner Cable Inc that will keep News Corp's Fox-owned television stations, including KTTV Channel 11 and KCOP Channel 13 in Los Angeles, and several of its cable networks on Time Warner Cable systems assuring uninterrupted service to the consumers.
The agreement was reached late yesterday, less than a day after the current contract between the two companies expired.
The impasse, which had threatened blackouts for viewers in New York, Los Angeles, Dallas and elsewhere, has been the most high profile of several year-end negotiations between TV companies and firms that pipe TV into homes.
"We're happy to have reached a reasonable deal with no disruption in programming for our customers," Glenn Britt, Time Warner Cable's chief executive, said in a statement late on Friday.
"We're pleased that after months of negotiations we were able to reach a fair agreement with Time Warner Cable -one that recognises the value of our programming," News Corp president and chief operating officer Chase Carey said.
The war of words between media mogul Rupert Murdoch's News Corp and Time Warner Cable Inc, the nation's second-largest cable operator, reached a peak in the last few days, with lawmakers and regulators pleading with both companies to hammer out a deal or face their wrath.