The fear isn't cable channels cutting HBO. The issue is consumers cutting their cable subscription. The single biggest danger to HBO is consumers getting rid of cable.

The AMC network owns AMC and a few artsy channels I've never heard of. Time Warner owns HBO, TBS, CW, TheWB, WarnerBrothers, Kids WB, Cartoon Network, Adult Swim, CNN, and a little more. I've heard that HBO gets $7 per each of it's 29 million subscribers. The parent company, TimeWarner, gets an even larger number per cable television subscriber.

If TimerWarner could sell it's content ala cart and make more money than they currently do off subscriptions I'm sure they'd do it! They have wisely invested in the creation of HBO Go such that if the day comes where that's a more profitable venture, and there are no contractual roadblocks, they'll flip the switch in an instant.

Just to clarify, Time Warner Cable is no longer related in any way to Time Warner. They've licensed the name since 2009.

This clarification does not change your point, however. A conglomerated cable channel owner benefits from any one of their channels driving access to all of them. If HBO did circumvent the cable operator, they may be hurting their brothers and sisters in the process

Dish Network dropped AMC just a few days ago. Dish says it's because of ratings.

That's because of a wholly unrelated dispute.

How is it unrelated? Dish wants more money for carrying AMC. The same deal could happen here - cable companies could demand more money from HBO than they are willing to pay, exactly what cletus is referring to.