CBS and Verizon reach a deal, but Time Warner dispute remains
CBS and Verizon have officially reached a three-year content carriage agreement, which allows for “continued retransmission of CBS owned stations and wider distribution of CBS Sports Network on Verizon’s FIOS TV in multiple markets across the country,” according to a press release.
The deal ensures distribution of CBS-owned stations in multiple Verizon markets, such as New York, Los Angeles, and Dallas, areas that are also home to Time Warner Cable subscribers.
“We are very pleased to reach this agreement with Verizon and its FIOS service,” said Ray Hopkins, CBS Corporation president for Television Networks Distribution. “This deal was reached in a short period of time, and CBS has once again achieved fair value for our over-the-air rights. Verizon is a distribution partner of growing importance to us that provides excellent service to its expanding number of subscribers, and we are glad that this partnership will continue and grow.”
This deal with Verizon now puts the spotlight back on Time Warner Cable, particularly after CBS CEO Leslie Moonves sent a memo to his staff claiming that TWC was offered a very similar deal and has yet to move toward an agreement. “You should know that Time Warner Cable has been offered almost exactly the same deal for CBS carriage to which Verizon has agreed,” Moonves said in the memo.
Read Moonves’ entire memo to his staff below:
Time Warner Cable had no comment.