The parties are in advanced negotiations on a new contract.
Hot Cable Systems Media Ltd. (TASE: HOT) is due to resume broadcasting CNN. The parties are in advanced negotiations on a new contract.
HOT stopped airing CNN, as well as other Turner Broadcasting Service Inc. stations, TCM and Cartoon Network, in October 2007. HOT and Turner Broadcasting were unable agree on a price for a new contract, since HOT was seeking a sharp reduction in an effort to lower its content costs. The current talks only cover the return of CNN to HOT.
HOT confirmed that it was in talks with CNN.
Published by Globes [online], Israel business news - www.globes-online.com - on February 12, 2009
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