DirecTV subscribers may lose popular channels owned by Viacom Inc. including MTV, Comedy Central and Nickelodeon as early as Wednesday if the two companies are unable to come to terms on a new distribution deal.
Viacom said on its website that its current contract with DirecTV expires at midnight Tuesday and no agreement is near.
"Despite our best efforts, DirecTV has rejected all of our proposals to renew our agreement," Viacom said, adding that the latest offer from the satellite broadcaster is for a lower rate than Viacom said it gets from any other distributor in the industry.
DirecTV, which has about 20 million subscribers around the country, countered that Viacom is being greedy. Viacom wants a 30% increase, or an additional $1 billion, to carry its channels, DirecTV said in a statement.
Although the current pact expires at midnight, DirecTV said it is willing to continue carrying the channels while the two sides negotiate, but Viacom has resisted that offer.