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Viacom rises on Dish deal talks

Viacom shares rose nearly 4.9 percent Wednesday after Dish Network CEO said he sees a potential "path" for a deal to continue carrying Viacom programming.

Dish CEO Charlie Ergen, speaking on the company's earnings conference call, said he sees potential for a deal but it is not done yet, indicating progress has been made. The deadline for the deal to be reached is midnight.

"I think that the tone on both sides, Viacom and Dish, has been more productive through the weekend and this week, so there actually probably is a path to continue carriage. But it's not done yet, and the devil's in the details." Ergen said on the conference call.

On Tuesday, Viacom shares dropped on concerns that the companies were at an impasse in negotiations. Dish had pointed out that Viacom's channels have become less valuable, and customers can access the content in other places.

Viacom shares are down about 9.2 percent year-to-date, and nearly 47 percent over the past 12 months.