Disney, Cablevision Patch Up Dispute

Cablevision's subscribers in the New York metropolitan area got back their access to the Academy Awards Sunday night after the cable company reached a deal with ABC-TV in a fee dispute.
By TSC Staff ,

Updated from Sunday, March 7NEW YORK (TheStreet) -- Cablevision's (CVC) subscribers in the New York metropolitan area got back their access to the Academy Awards Sunday night after the cable company reached a deal with ABC-TV in a fee dispute.

"It is a deal that is fair to our customers and in line with our other programming agreements," Cablevision spokesman Charles Schueler said in a phone interview with

Associated Press

after the signal had been restored. Scheuler declined to disclose details of the deal.

Cablevision said the signal was switched back on at 8:43 p.m. EST Sunday. The Academy Awards show began at 8:30 p.m.

ABC's parent

Walt Disney

(DIS) - Get Report

turned off its ABC signal to Cablevision midnight Saturday after the two sides failed to reach an agreement on monthly subscription fees.

The two companies traded verbal jabs Sunday over who was to blame for the blackout, according to published media reports.

"Cablevision has once again betrayed its subscribers," said a statement from a representative of Disney and ABC, according to the

Associated Press

. "Cablevision pocketed almost $8 billion last year, and now customers aren't getting what they pay for ... again."

But Cablevision pinned the blame squarely on Disney's top executive.

"It is now painfully clear to millions of New York area households that Disney CEO Bob Iger will hold his own ABC viewers hostage in order to extract $40 million in new fees from Cablevision," said Schueler, the

AP

reported.

Shares of Cablevision closed Friday up 21 cents at $24.28. Shares of Disney ended the session up 65 cents at $33.22.

This article was written by a staff member of TheStreet.com.

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