Time Warner Cable raising rates on TV and Internet service

Time Warner Cable customers will soon be paying more for television and Internet service.

The company says the average customer not on a promotion price plan will see an increase of six to nine dollars on their monthly cable bill. Charges for TV service will increase three dollars a month. In adition, the cost to rent a cable converter box will go up from $8.99 to $10.25 a month.

Time Warner Cable customers will also have to pay a new "Broadcast TV Fee" of $2.25 a month. The company says the monthly fee will help cover the cost of retransmitting over-the-air signals from other broadcasters.

Time Warner's Internet service will cost you more as well. The company is hiking its monthly fee three dollars for all of its online plans.

A spokesperson for Time Warner Cable tells CNY Central that says the rate hike is needed to cover the rising rates that network providers are charging the company to carry their channels.

Cable providers DISH Network and Direct TV also raised their rates earlier this month.