Charter, Viacom Agree to Short-Term Extension at Deadline

Viacom and Charter said they have reached a temporary extension of their carriage deal.

The extension means that Viacom's cable networks--including Nickelodeon, MTV and BET--will remain available to subscribers of the nation's second-largest cable operator.

The long-term deal was set to expire Sunday (Oct. 15). The companies said they will continue to work on a mutually beneficial agreement.

In addition to the carriage fees Viacom will get for its channels, the two companies have been at loggerheads over Viacom's desire to put its channels in a low-cost skinny bundle composed of entertainment channels that do not have sports rights.

Anlysts estimate that carriage by Charter is worth $1.4 billion annually to Viacom in subscriber fees and advertising revenue.

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.