SAN FRANCISCO ( TheStreet) -- Apparently CBS ( CBS) is betting a deal can be reached with Dish Network ( DISH) because the media giant agreed to extend the Thursday deadline in its programming contract talks with the satellite pay-TV operator.
"CBS has agreed to a short-term extension while negotiations continue," a CBS representative said in a statement, emailed to TheStreet. For now, that means CBS' popular programming will temporarily continue to be seen in Dish's 14 major markets that include Los Angeles, New York, Dallas and Denver.
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Dish stock was up 0.04% to $72.25 in after-hours trading , while CBS was 0.2% lower to $53.66.
The extension will last for five days, according to a Bloomberg report, while CBS, the most viewed network according to Nielsen ratings, tries to make its case for charging Dish more to receive its programming, which includes such popular shows as NCIS and The Big Bang Theory and National Football League games.CBS has been seeking higher fees for its programming over the past few years, but this year marks a change in the reasoning behind its request. CBS and other TV networks are feeling the heat as companies shift their television advertising dollars to mobile advertising.
As a result, ad spending on network TV is expected to come in around 3.9% for 2014, according to media analyst firm MoffettNathanson, which lowered its May forecast from 5%. For CBS viewers on the Dish Network, stay tuned...the drama continues.