Time Warner Cable Inc and CBS Broadcast Network said that they will continue the negotiations regarding fees paid by Time Warner to CBS. The overall issue for the disagreement is the amount of money that Time Warner Cable will pay to carry CBS-owned TV stations, along with its other properties, including Showtime and the CBS Sports Network. Sources are saying that if both companies will not reach a deal as soon as possible, CBS's broadcast will go dark in areas like Los Angeles and New York. Viewers will be deprived of summer shows like "Big Brother" and "Under the Dome".

"Both parties have agreed to an extension through Monday, July 29 at 5 p.m.," Time Warner Cable spokeswoman Maureen Huff told Reuters late on Wednesday.

Time Warner and CBS are at odds over the distribution agreement that would keep the CBS media properties on the Time Warner Cable systems. CBS has been vocal that its content is undervalued compared to what other channels get when it comes to the distribution fees from other pay-TV carriers.