cent of the approximately $4 rental fees charged each time a subscriber rents a movie from pay TV services offered by companies such as Verizon, AT&T, and Comcast. This is less than what is possible from OTT providers. This is because there are lower fees for these services, leading to less revenue to share with content providers. Content providers, which typically receive large fees from agreements that allow cable operators rights to their TV shows and movies, are reluctant to jeopardize these fees by licensing rights to the competitors of operators. HBO, the largest premium cable channel, does not currently license its shows for streaming to companies such as Netflix until a year after their debut. A content provider's revenue from streaming services is lower than its fees from DVDs and cable TV. In addition, content providers earn revenue from sales of DVDs and movie the- laters, both of which are declining. With fewer people going to movie theaters, content providers have made new movies available for video-on-demand (VOD) sooner than in previous years. They now provide them exclusively to movie theaters for periods shorter than the previous norm of 120 days. The issue of content is also complicated by the fact that some cable TV provid- ers also own rights to movies and TV series and/or national broadcasters. In January 2011, Comcast received approval from United States regulators to purchase a control- ling stake (51 percent) in NBC Universal, which owns Universal Media Studios and The Internet Universal Pictures' Focus Features; the NBC broadcast network; and cable networks USA, Bravo, and CNBC. It is part owner of the Weather Channel and majority owner of MSNBC. Major content providers and a partial list of what they own include the following. Time Warner owns the most content in the United States and Canada. Some of its properties are HBO Films, CNN, New Line Cinema, TBS, Turner Entertainment, and Warner Bros. Animation. News Corporation, under its Fox Filmed Entertainment division, owns 20th Century Fo