Les Moonves on Cost of the CBS-TWC Blackout: ‘Virtually Nothing’

Les Moonves on Cost of the CBS-TWC Blackout: 'Virtually Nothing'

Moonves says he hopes government doesn't act

CBS CEO Les Moonves says his network's losses were “virtually nothing” in the standoff with Time Warner Cable that blacked out CBS in several major markets for a month.

Moonves also said he hoped the dispute and its resolution would “make these negotiations less contentious.”

Also read: CBS and Time Warner Cable Strike a Deal

“We look for fairness,” he said. “If you supply good content, you should get paid for it.”

He spoke Wednesday at the Bank of America Merrill Lynch 2013 Media, Communication & Entertainment Conference in Beverly Hills.

The blackout ended last week as CBS and TWC announced they had reached a new broadcasting rights agreement. The companies didn't disclose the amount TWC will pay to carry CBS-owned stations.

He also said that though the Federal Communications Commission is looking into the dispute, he hopes that it won't get involved.