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"block"; } function hideDiv( id ) { document.getElementById(id).style.display = "none"; } </script> <div class="component clearfix" id="story"> <h1>Viacom May Pull Channels Off Time Warner Cable in Contract Spat </h1> <div id="story_meta"> <cite class="byline"> <span class="author"> By Andy Fixmer and Adam Satariano - December 31, 2008 00:01 EST </span> </cite> </div> <br/> <div class="clearfix" id="story_content"> <div id="story_tools_top_holder"></div> <div class="story_inline assets"> <div class="story_inline attachments"> <div class="image thumbnail"> <div class="thumbnail_container"> <img src="/web/20150226003248im_/http://www.bloomberg.com/apps/data?pid=avimage&iid=iTy_KFgkMts0" width="200" height="158" alt="" border="0"/> </div> <p class="caption">Employees enter a Viacom office building </p> </div> </div> </div> <p> Dec. 31 (Bloomberg) -- <a href="/web/20150226003248/http://www.bloomberg.com/apps/quote?ticker=VIA%2FB:US">Viacom Inc.</a> threatened to pull shows such as “Dora the Explorer” and “The Daily Show” from <a href="/web/20150226003248/http://www.bloomberg.com/apps/quote?ticker=TWC:US">Time Warner Cable Inc.</a> systems on Jan. 1 if the companies don’t reach a new programming agreement. </p> <p>Viacom, controlled by <a href="https://web.archive.org/web/20150226003248/http://search.bloomberg.com/search?q=Sumner+Redstone&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1">Sumner Redstone</a>, is seeking an increase in affiliate fees of less than 25 cents a month for each subscriber for all 19 of its MTV Networks cable channels, including Nickelodeon and Comedy Central, the New York-based company said yesterday in an e-mailed statement. </p> <p>With advertising weak, the fees are a crucial source of revenue for cable programmers such as Viacom. The company, which also owns Paramount Pictures, reported a 12 percent increase in revenue from affiliates to $660 million in the third quarter, accounting for 19 percent of total sales. </p> <p>“Talks have stalled,” Viacom spokeswoman <a href="https://web.archive.org/web/20150226003248/http://search.bloomberg.com/search?q=Kelly+McAndrew&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1">Kelly McAndrew</a> said in an interview. “We remain hopeful they will come back to the table and discuss a reasonable agreement.” </p> <p><a href="https://web.archive.org/web/20150226003248/http://search.bloomberg.com/search?q=Alex+Dudley&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1">Alex Dudley</a>, a Time Warner Cable spokesman, said the company is willing to pay a “modest increase.” </p> <p>“They are clearly desperate to make up for sagging ratings and sagging ad revenue on the backs of Time Warner Cable customers,” Dudley said in an interview. The New York-based cable company is prepared to refund customers for the lost programming, though the amount hasn’t been determined, he said. </p> <p>Time Warner Cable is the second-largest U.S. provider behind Comcast Corp., with 13.3 million basic video subscribers. It is 84 percent owned by <a href="/web/20150226003248/http://www.bloomberg.com/apps/quote?ticker=TWX:US">Time Warner Inc.</a>, which is disposing of its take in the pay-television service. </p> <p>Dropping Advertising </p> <p>Viacom rose 66 cents, or 3.8 percent, to $18.21 yesterday in New York Stock Exchange composite <a href="/web/20150226003248/http://www.bloomberg.com/apps/quote?ticker=VIA%2FB:US">trading</a>. The Class B shares have dropped 59 percent this year. Time Warner Cable gained $1.56, or 7.7 percent, to $21.76. The shares have fallen 21 percent. </p> <p>Rising affiliate fees have helped counter falling cable advertising sales. Ad revenue at Viacom’s cable networks dropped 3 percent in the U.S. in the third quarter, the company said on Nov. 3. Cable channels contributed 97 percent of the company’s operating income last year. </p> <p>“The renewal we are seeking is reasonable and modest relative to the profits TWC enjoys from our networks,” Viacom said in the statement. </p> <p>Viacom announced plans to <a href="/web/20150226003248/http://www.bloomberg.com/apps/quote?ticker=VIA%2FB:US">cut</a> 850 jobs, or 7 percent of its workforce, on Dec. 4 and will write down the value of some assets in response to falling ad sales and viewership. </p> <p>The company’s shows also include “The Colbert Report” and “SpongeBob SquarePants.” </p> <p>The dispute with Time Warner Cable comes as Redstone is seeking to renegotiate bank loans at his family holding company, National Amusements Inc. A drop in the shares of Viacom and CBS Corp., another Redstone holding, led to a violation of covenants at the holding company. </p> <p>To contact the reporter on this story: <a href="https://web.archive.org/web/20150226003248/http://search.bloomberg.com/search?q=Andy+Fixmer&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1">Andy Fixmer</a> in Los Angeles at <a href="https://web.archive.org/web/20150226003248/mailto:afixmer@bloomberg.net">afixmer@bloomberg.net</a>; <a href="https://web.archive.org/web/20150226003248/http://search.bloomberg.com/search?q=Adam+Satariano&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1">Adam Satariano</a> in San Francisco at <a href="https://web.archive.org/web/20150226003248/mailto:asatariano1@bloomberg.net">asatariano1@bloomberg.net</a> </p> <p>To contact the editor responsible for this story: <a href="https://web.archive.org/web/20150226003248/http://search.bloomberg.com/search?q=Anthony+Palazzo&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1">Anthony Palazzo</a> at <a href="https://web.archive.org/web/20150226003248/mailto:apalazzo@bloomberg.net">apalazzo@bloomberg.net</a>. </p> </div> <ul class="story_tools clearfix" id="story_tools_bottom"> <li class="ilike"> <fb:like xmlns:fb="http://www.facebook.com/2008/fbml" action="recommend" show_faces="true" layout="button_count" width="110" href="http://www.bloomberg.com/apps/news?pid=newsarchive&refer=us&sid=algojFpM7.Ho"/> </li> <li class="twitter"> <a rel="nofollow" data-via="BloombergNow" data-count="horizontal" url="http://www.bloomberg.com/apps/news?pid=newsarchive&refer=us&sid=algojFpM7.Ho" class="twitter-share-button" href="https://web.archive.org/web/20150226003248/http://twitter.com/share">Tweet</a> </li> <li class="linkedin"> <script data-url="http://www.bloomberg.com/apps/news?pid=newsarchive&refer=us&sid=algojFpM7.Ho" type="in/share" data-counter="right">//</script> </li> <li class="share"> <a href="#share"> <span>More</span> </a> <div class="options"> <ul> <li class="bx"> <a rel="nofollow" onmousedown="BLOOMBERG.tracker.EVENTTRACK.record('Social Media', 'Add Article to Business Exchange', 'http%3A%2F%2Fwww.bloomberg.com%2Fapps%2Fnews%3Fpid%3Dnewsarchive%26refer%3Dus%26sid%3DalgojFpM7.Ho');" onclick="window.open(this.href,'bxpopup','height=500,width=800,scrollbars=1');return false;" href="https://web.archive.org/web/20150226003248/http://bx.businessweek.com/api/add-article-to-bx.tn?url=http%3A%2F%2Fwww.bloomberg.com%2Fapps%2Fnews%3Fpid%3Dnewsarchive%26refer%3Dus%26sid%3DalgojFpM7.Ho">Business Exchange</a> </li> <li class="yahoo"> <a rel="nofollow" onmousedown="BLOOMBERG.tracker.EVENTTRACK.record('Social Media', 'Buzz Article in Yahoo', 'http%3A%2F%2Fwww.bloomberg.com%2Fapps%2Fnews%3Fpid%3Dnewsarchive%26refer%3Dus%26sid%3DalgojFpM7.Ho');" onclick="window.open(this.href,'yahoopopup','height=500,width=800,scrollbars=1');return false;" href="https://web.archive.org/web/20150226003248/http://buzz.yahoo.com/buzz?targetUrl=http%3A%2F%2Fwww.bloomberg.com%2Fapps%2Fnews%3Fpid%3Dnewsarchive%26refer%3Dus%26sid%3DalgojFpM7.Ho&headline=Viacom May Pull Channels Off Time Warner Cable in Contract Spat &summary= [bn:WBTKR=VIA/B:US] Viacom Inc. 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