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Time Warner Reaches Deal with Viacom

By Eileen Buckley

Buffalo, NY – Time Warner Cable says it has reached an agreement in principle with Viacom. This means the networks will continue to be on the Time Warner line up for its cable subscribers.

The Cable Company and Viacom jointly announced the deal Thursday morning to renew the carriage for Viacom's MTV Networks. The companies are expected to finalize the details of the deal over the next several days.

"We are pleased that our customers will continue to be able to watch the programming they enjoy on MTV Networks. We are sorry they had to endure a day of public disagreement as we worked through this negotiation," said Glenn Britt, President and CEO of Time Warner Cable said.

Philippe Dauman, President and CEO of Viacom said, "We've been partners with Time Warner Cable for a long time, and we're happy to be renewing that partnership for the benefit of their customers and our loyal viewers. It's gratifying that we could reach an agreement that benefits not only our audiences but that is also in the best interest of both of our companies."