Time Warner Cable, CBS post quarterly gains; cable dispute continues

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Time Warner Cable and CBS Corp. released upbeat earnings reports for the second quarter. A Friday deadline faces the two companies in their dispute over cable carriage fees. (File Photo: A Time Warner Cable van parked on the street on August 3, 2011 in Los Angeles).

As Time Warner Cable and CBS continue to negotiate over carriage fees, both companies posted earnings gains during the second quarter.

Time Warner Cable said its income rose 6.4 percent in the second quarter over the same period last year. The country's second largest cable provider said it also lost 191,000 video subscribers during the second quarter. 

CBS Corp. reports its net income rose 11 percent during the second quarter compared to the previous year. 

Time Warner Cable and CBS recently extended their deadline to 2 p.m. Pacific Time Friday as they continue negotiations over retransmission fees. The two companies are fighting over how much money the cable company must pay CBS to carry its channels.  

Without an agreement — or another extension; there's been several so far — CBS-owned channels in Los Angeles, New York, and Dallas could go dark for Time Warner Cable subscribers. 

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