AT&T And Viacom Reach Renewal Agreement

Broadcasting Cable reports that AT&T and Viacom have announced they will be renewing their carriage agreement. The previous agreement between the two media and communication giants expired Friday, but the networks remained available to AT&T subscribers during negotiations. Details of the new deal have not yet been made available. At stake had Viacom not reached a deal with AT&T, was what analysts estimated to be subscriber fees of about $1 billion and ad revenues of about $1 billion.