DirecTV and Viacom have defused and resolved their dispute which had left 20 million people in the dark.
After a very public battle involving a video marketing campaign from both companies a settlement has been reached which amounts to a $600 million increase in programming fees for Viacom.
The new 7 year agreement means that DirecTV will pay an additional 20% on top of its current deal which Viacom wanted to re-negotiate.
All 26 Viacom channels will be restored to DirecTV customers as a result of the $600 million annual increase in fees for Viacom channels.
Both DirecTV and Viacom faced a public backlash for not resolving the dispute quickly, however now the companies will want to put this behind them.
Viacom had originally wanted a 30% increase in the contract but negotiated down to 20%. DIrecTV will now have to reassure its customers who have been affected by the blackout. Will Viacom ratings return to normal?