Reuters reports Viacom says it's made a series of offers to Charter Communications, Spectrum's parent company, but can not meet Charter's "unreasonable" demands. Those Viacom networks include MTV, Nickelodeon, Nick Jr., BET, Comedy Central and Spike, which will become the Paramount Network in January.
"Despite our efforts, Charter continues to insist on unreasonable and extreme terms that are totally inconsistent with the market", Viacom said in its statement.
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Analysts said they believe Viacom is willing to accept a lower rate in returned for carriage of its flagship networks on Charter's most-popular tier of service. "While we're making every effort to reach a new deal, Charter's actions may force a disruption in their service".
"We are negotiating with Viacom in good faith, have offered a fair price, and we are optimistic that a fair deal can be reached", Spectrum said on their Facebook page Thursday evening.
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The current deal between Spectrum and Viacom is four years old, according to keepviacom.com, a website aimed at urging Spectrum customers to contact the cable provider and tell them they want to keep the channels.
Spectrum cable customers may lose several TV channels due to a contract dispute, Viacom Inc. warned Wednesday.
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The current deal between Charter and Viacom expires October 15, according to a person familiar with the situation who declined to be identified.