Moonves Says TWC Blackout Didn't Hurt CBS Earnings

Author: Jon Lafayette
Coverage Type: reporting
CBS, 51 W. 52nd St., New York, NY, 10019, United States

CBS CEO Les Moonves said his company's bottom line was hardly impacted by the month-long retransmission consent battle with Time Warner Cable.

"Our national ad dollars did not go down. There were no such things as make goods," Moonves said. When the blackout was over, CBS's ratings popped back up. "There was no harm done financially to CBS Corporation." CBS was also paid its retransmission fees retroactively, sources said. Moonves said that the fight was necessary because CBS needed to get paid for its content, and to be able to put that content in new venues where consumers are watching. One of the new ways CBS is monetizing its content is with streaming companies like Amazon, which paid for part of the production of the network's summer hit Under the Dome. Amazon had the rights to stream Under the Dome four days after it was broadcast, an arrangement that didn't dampen the shows performance on CBS, with viewership of about 20 million a week.



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