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Current Denies It's in Danger of Being Dropped by Time Warner Cable

Current TV Logo - H 2012

The struggling network fires back at a report claiming that it is on the precipice of defaulting on its contract with the carrier.

Ratings-challenged cable network Current TV has shot down a Reuters story that reported that its carriage deal with Time Warner may be soon dropped.

Reuters reports that the network's contract with Time Warner, which puts Current on 12 million cable boxes, says that if they do not draw a certain minimum number of viewers, they suffer financial penalties, including requiring beefed up marketing; a second straight quarter allows Time Warner to drop them altogether.

PHOTOS: Keith Olbermann's Famous Feuds

"We do not discuss the terms of our distribution agreements because they are confidential," a spokesperson for the network said. "We are in compliance with all our distribution agreements. And all our agreements are long-term agreements with 2 to 5 years remaining on their terms. We are not at any risk of losing any of our distribution agreements."

Following the loss of Keith Olbermann, who was fired last Friday after a troubled year at Current, the network's viewership is in peril; Eliot Spitzer's Viewpoint, the show that has replaced Olbermann's Countdown in the 8 p.m. time slot, debuted to just 47,000 viewers Friday night.

Olbermann and the network have publicly squabbled, with far more than pride on the line: Current says that it does not owe Olbermann the remaining $40 million on his contract, citing sabotage and breach of agreement, while Olbermann has said he will pursue legal action to obtain the money he claims he's owed.