Walt Disney Co (NYSE:DIS) and cable company Altice USA (NYSE:ATUS) have reached a tentative deal late on Sunday that will see millions of subscribers in the New York area continuing to receive ESPN, ABC and other Disney channels.
Both companies had not been able to agree on how much Altice would have to pay for the Disney channels.
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"We have reached an agreement in principle and have extended the deadline accordingly to try and finalize the terms," the companies said in a joint statement.
The contract between Disney and Altice, the fourth-largest cable operator in the U.S., expired Saturday.
A last-minute deal was reached just as Disney was preparing to pull its networks from Altice’s Optimum network.
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Altice USA, formed by Netherlands-based Altice NV (ATCA.AS) through its acquisitions of Cablevision -- now known as Optimum -- and Suddenlink Communications. Optimum has 3.1 mln customers in New Jersey, New York, Connecticut and Pennsylvania.
The discussions with Altice were the first among several Disney is scheduled to have with cable operators over the next two years as current programing deals expire.
ESPN is Disney’s most important network and the most expensive basic cable network.
The channel also is among the most popular, ranking as the fourth most-watched national cable network in Optimum households over the past year.