Market Insider

Viacom shares surge on long-term Dish deal

Faber Report: Viacom & Dish near deal

Viacom's stock rose more than 13 percent Thursday after the company reached a deal with Dish Network to carry its programming.

"Today's agreement ensures Viacom's number one family of networks will continue to be available to our millions of fans on DISH and underscores the value of our programming across platforms," Viacom CEO Philippe Dauman said, in a statement.

Viacom — which owns networks like Comedy Central and MTV — and Dish have been battling for several months. Dish CEO Charlie Ergen had even told investors the company would be prepared to move forward without Viacom's programming.

The talks seemed to reach a turning point Wednesday, when Ergen said that negotiations between the two parties had been more productive.

Viacom offices in New York City.
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"We appreciate Viacom's willingness to continue with us on our journey as we work to deliver the best, most innovative television services available," Ergen said in a Thursday statement.

Viacom shares are now up 3 percent year to date.

VIAB in 2016

Dish shares gained 1.4 percent Thursday.

— CNBC's David Faber contributed to this report.