Viacom, the owner of MTV, Comedy Central and the Paramount film studio, agreed to resolve a legal dispute with Time Warner Cable, allowing cable customers to see Viacom shows on devices such as Apple’s iPad.
“All of Viacom’s programming will now be available to Time Warner Cable subscribers for in-home viewing via Internet protocol-enabled devices such as iPads,” the companies said yesterday in a joint statement. Time Warner Cable won’t be paying more to stream shows on the gadgets, according to two people familiar with the matter.
Viacom sued in 2011, seeking an order blocking Time Warner Cable from distributing Viacom programming on portable electronics. Time Warner Cable also sued, seeking a ruling from the court that its contract with Viacom allowed the distribution of content on the devices.
Shares of Viacom, based in New York, rose less than 1 percent to $47.25 yesterday. Time Warner Cable climbed less than a 1 percent as well, to $76.35.
Time Warner Cable, Viacom, Comedy Central