Oct. 31 - Time Warner Cable suffered a net 304,000 customer subtractions in the third quarter, blamed in large part to its fight with CBS. Conway G. Gittens reports.
Here's proof Time Warner Cable came out the loser in its battle with No. 1 TV network CBS. A net 304,000 video subscribers decided to cut ties with the cable operator last quarter, due in part to the month-long blackout of CBS in several major cities. That's more than double the amount Verizon FiOS added in new video subscribers during the same period. Compare that to Netflix, which took on more than 1.3 million new users. Time Warner Cable's CBS battle also came with a price tag. Reimbursing customers of CBS' cable channel Showtime - reduced cable revenues by about $15 million. All-in-all, a disappointing third quarter is reviving chatter the company could become a merger partner.