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Viacom and Time Warner renew agreements

NEW YORK (AP) -- Time Warner Cable and Viacom, the owner of channels including Nickelodeon, MTV and Comedy Central, said Tuesday that they renewed a multi-year distribution agreement, and the Time Warner Cable and Bright House networks will continue providing Viacom networks to subscribers.

The deal between the two New York-based companies covers TV, video on demand, websites and apps. The two didn't disclose terms.

Shares of Time Warner Cable Inc. rose $1.66 to $134.16 in midday trading, and Viacom Inc. shares dipped 2 cents to $85.45.