Time Warner Cable (NYSE: TWC) says Wednesday that the cable company will agree to binding arbitration to settle a fee dispute with Fox, according to Associated Press.
CEO Glenn Britt says Time Warner will also agree to the necessary interim steps to preserve uninterrupted access to Fox signals.
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Fox, a division of News Corp. (NASDAQ: NWSA), has said that it needs to be paid about $1 per month to broadcast signals that are retransmitted to Time Warner Cable Inc. subscribers.
The companies' current deal expires at midnight on Thursday, raising the possibility that some cable subscribers could miss out on college football, including the Sugar Bowl game on Friday.
Fox has already began running an advertising campaign that is meant to prepare its viewers for the possibility of having no college football games or “American Idol,” the network’s wildly popular music talent search show.
Fox says it will respond to the offer later Wednesday.
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