At the stroke of midnight more then the ball was going to drop. Viacom was threatening to pull 19 cable channels including Comedy Central, MTV and Nickelodeon.
But as the deadline came both Time Warner and Viacom reached a deal.
illions of Time Warner Cable customers won’t lose their access to MTV and 18 other channels after the cable giant reached an agreement early Thursday with media conglomerate Viacom Inc.
The two sides, citing disagreement over fee hikes, had threatened a damaging blackout at a minute past midnight Thursday that would have cut off shows such as “SpongeBob SquarePants” and “The Colbert Report” to about 15.7 million subscribers.
“We are pleased that our customers will continue to be able to watch the customers will continue to be able to watch the programming they enjoy on MTV Networks,” said Glenn Britt, president and CEO of Time Warner Cable Inc. “We are sorry they had to endure a day of public disagreement as we worked through this negotiation.”
Terms of the deal were not disclosed. Details must still be finalized over the next few days, the companies said.
The only question is that are TV networks even relevant anymore? With video services such as Hulu and iTunes original TV programming isn’t restricted to the TV and cable companies.