Time Warner ‘Regrets’ ABC Spat
Time Warner Inc., the No. 1 U.S. cable television operator criticized for dropping ABC television signals last week, told Congress it “deeply regrets” its handling of the business dispute.
The company wrote members of Congress, apologizing for trapping customers in the dispute with the Walt Disney Co. unit and leaving 3.5 million viewers in 11 cities without ABC’s popular programs.
“Time Warner deeply regrets the way our commercial dispute with Disney unfolded last week,” said Timothy Boggs, Time Warner senior vice president for global policy. “There was a clear and honest disagreement between companies, but we at Time Warner are sorry we let it get to a point where consumers were put in the middle.”
The letter, sent Wednesday and included in a filing made to the Federal Communications Commission late Thursday night, comes as Time Warner and America Online Inc., which is buying the media company, try to assure regulators they will operate in the public interest.
The FCC ruled last week that Time Warner broke U.S. law by dropping the ABC stations at the start of the May audience ratings survey, which is used to determine advertising rates.
On the New York Stock Exchange, shares of Time Warner rose 75 cents to $80.75, AOL rose $1.50 to $55.25 and Disney fell 66 cents to $40.46.
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