NEW YORK, Jan. 1 /PRNewswire-FirstCall/ -- Time Warner Cable (NYSE: TWC)
and Viacom (NYSE: VIA and VIA.B) jointly announced this morning that they have
reached an agreement in principle to renew carriage for Viacom's MTV Networks.
The companies expect to finalize the details of the agreement over the next
several days.
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."
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."
SOURCE Viacom