Update: Both sides fold, againIn 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.
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ORIGINAL ARTICLE:
It's turning out to be a battle between media giant Viacom and Time Warner Cable over carriage consent which expires tonight (New Year's Eve) at Midnight.
Our bet is: Time Warner customers lose Nickelodeon, MTV, Comedy Central and 16 other channels.
Up to 13 million subscribers will see their screens go dark or to alternate programming on those channels if - I mean, when - Time Warner and Viacom fail to reach a last minute deal by midnight.
According to reports, Viacom wants an extra 23 cents a month per suscriber. Time Warner calls it an undoable deal.
Get those DVR's up and running now to record as much of Viacom's programming as possible for the kids before the end comes.
We'll have updates as receive them.
