Dolan meets Britt to negotiate MSG-Time Warner Cable carriage deal
With New York politicians stepping up pressure on Time Warner Cable (NYSE: TWC) and MSG to settle their distribution dispute, Time Warner CEO Glenn Britt and Cablevision (NYSE: CVC) CEO Jim Dolan finally met in person to discuss a potential deal earlier this week.
But Britt and Dolan, who also controls MSG, still aren't seeing eye to eye on terms for a new carriage agreement. MSG is reportedly demanding a 53 percent increase on the license fee that Time Warner Cable pays to distribute the regional sports network to its 2 million subscribers in the New York area.
The popularity of New York Knicks point guard Jeremy Lin has seen an increase in demand from viewers for MSG, and prompted New York City Council Speaker Christine Quinn to threaten to grill the executives in public unless they reach a deal soon.
"If these discussions cannot produce a resolution within two weeks, the City Council will hold hearings and request that both parties explain themselves to the public," Quinn wrote in a letter to Dolan and Britt, according to Friday's New York Post. "At a time when all New Yorkers are getting together behind Jeremy Lin and the New York Knicks, now is the time to resolve this dispute once and for all," she added.
Time Warner Cable feuds with Cablevision over MSG fees
MSG teams with Buffalo and Rochester stations to squeeze Time Warner Cable
Time Warner Cable manages MSG loss with NHL, NBA games
New York attorney general to broker Time Warner Cable - MSG talks