Media giants, Viacom and Time Warner struck a deal agreeing on compensation that would allow SPIKE TV, Nickelodeon, MTV and 16 other channels to stay on Viacom programming.
Viacom originally wanted an additional $39 million on top of the $300 million Time Warner already pays. In order for Time Warner to acquire the $39 million it would be forced to charge subscribers an extra $2.76 annually.
Had a deal not been struck, Viacom would have turned off SPIKE TV and the other channels for 15.7 million subscribers one minute after midnight this morning.
-Matt De La Rosa