Time Warner CEO says consumers benefit from cable TV bundling
Consumers may want to pick and choose what channels they pay for but Time Warner Inc. Chairman and Chief Executive Jeff Bewkes says they don’t know how good they have it under the current pay-television system.
“I don’t think it’s desirable for consumers to break the bundle,” Bewkes said in remarks at the UBS Media and Communications Conference in New York on Tuesday. “You end up paying more for less.”
The bundle, which is industry lingo for how cable networks are packaged and sold to distributors and customers, has become a hot topic of late because of rising pay-TV bills. On Monday, Glenn Britt, the chief executive of Time Warner Cable, which is a separate publicly traded company, warned that he was looking to drop underperforming channels.