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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.