Monday, September 23, 2019

TIME WARNER CABLE HIT HARD BY BLACKOUT

October 31, 2013 by · 1 Comment 

That dispute between CBS and Time Warner Cable that blacked out the network in August and early September in several key cities seems not to have affected CBS’s bottom line whatsoever, but for TWC it produced its biggest quarterly loss of subscribers in its history — 306,000 of them. In an effort to prevent additional subscriber defections, the company offered credits for the downtime, valued at $15 million, the company said today (Thursday). Reporting on the results, the New York Times observed that they “underscored, to a degree rarely seen before, the damage that can be done when distributors and programmers publicly feud over contracts.” Nevertheless, the company was able to report a slight 2.9 percent rise in revenue for the quarter attributed to a new category for the company, business services.