Viacom, Charter Communications Agree to Extension in Carriage Talks
Viacom Inc. and Charter Communications are trying to work things out.
Viacom Inc. and Charter Communications have agreed to keep cable networks like Comedy Central and Nickelodeon on the air, according to a person familiar with the talks, while the two sides continue to negotiate terms of renewal to a deal that would keep Viacom’s cable networks in front of approximately 16.5 million Charter subscribers.
“Viacom has agreed to a short term extension of our renewal deadline with Charter while we work to reach a mutually beneficial deal,” this person said. A Charter spokesperson could not be reached for immediate comment.
The discussions could be critical for Viacom. In May,Charter moved Viacom-owned networks like Spike, MTV, VH1 and Comedy Central to a higher-priced tier on its cable service. In August, Viacom CEO Bob Bakish told investors the companies were far apart on the issue.
More to come…
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