Time Warner Cable, Viacom Reach Deal

Viacom and Time Warner have settled on a new contract. They had disagreed over fee increases, and Viacom had threatened to pull the plug on its 19 cable channels, including MTV and Comedy Central.

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STEVE INSKEEP, host:

NPR's business news starts with good news for Time Warner cable customers.

(Soundbite of music)

INSKEEP: Millions of Time Warner cable subscribers get to keep their favorite channels. Time Warner says it has resolved a dispute with the media conglomerate Viacom. The two companies had been fighting over fee hikes for some of the most popular networks, including Comedy Central, MTV, and Nickelodeon.

Viacom was threatening to pull the networks by New Year's Eve if its demands were not met. No more Jon Stewart, no more "Real World: Brooklyn." No more "Dora the Explorer." But at a last minute deal just after midnight that probably saved the lives of some parents, the two companies reached an agreement.

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