Viacom, Time Warner Cable Renew Carriage Deal

NEW YORK, January 5:
Viacom and Time Warner Cable have agreed to the terms of a new carriage deal,
averting a withdrawal of channels such as MTV, Nickelodeon, Comedy Central and
VH1 from the platform.

The two companies
announced on New Year's Day that they had reached an agreement in principle for
continued carriage of 19 cable channels under the MTV Networks umbrella.

"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,"
said Philippe Dauman, the president and CEO of Viacom. "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."

The agreement followed a
very public spat between the two companies. On December 30, the day before the
previous carriage deal was due to expire, Viacom threatened to pull the
channels. It also booked ads in newspapers in several markets, including New
York, Cleveland, Orlando, Dallas and Raleigh, that ran after the deal had been
announced. "Due to the timing of the agreement and the New Year's Day
holiday, Viacom was unable to pull the previously placed ads," the company
said in a statement.

Dauman said: "We
apologize to Time Warner Cable and our viewers for any inconvenience or
confusion these ads have caused. We look forward to continuing our positive and
productive partnership with Time Warner Cable well into the future."

—By Mansha Daswani