Update: Both sides fold, again In an update to a story we brought you yesterday, Viacom and Time Warner came to a virtual last second deal. We were wrong this time - and that's a good thing. LOS ANGELES -- Just before midnight New Year's Eve, Time Warner Cable Inc. says it has reached a deal with Viacom Inc. on carriage fees, avoiding a blackout of 19 cable channels, including MTV and Comedy Central. The two sides, citing disagreement over fee hikes, had threatened a damaging blackout at midnight that would have cut off shows such as "SpongeBob SquarePants" and "The Colbert Report" to about 15.7 million subscribers. Shortly after agreeing to extend a midnight deadline by an hour, Time Warner Cable spokesman Alex Dudley said the sides agreed on a new contract. Details of the deal were not immediately available. ------ ORIGINAL ARTICLE: It's turning out to be a battle between media giant Viacom and Time Warner Cable over carriage consent which expires toni...