As quickly as things got ugly between Time Warner and Viacom, things also got settled – Variety is reporting that the two companies have come to an agreement on a new deal that will keep Viacom owned MTV Networks (including MTV, VH1, Spike TV, Nickelodeon, Comedy Central and many other cable channels) on the air for Time Warner Cable subscribers.

The rift was over Viacom asking for an increase in the fees Time Warner pays to air their programming. When Time Warner refused the increase, it looked like all MTV Networks would be pulled from Time Warner Cable on January 1st, meaning 13.3 million Time Warner subscribers would find themselves without programming like The Daily Show, SpongeBob Squarepants and The Hills.

The two sides quickly began a PR war against one another, but Variety says that cooler heads prevailed, and negotiations went on between the two last night, ending at 2am ET Thursday, January 1st. CNN reports that Time Warner has agreed to a modest increase in the carriage fees they pay Viacom for their programming.

Earlier in the week, both sides were quick to put out statements deriding the other for the lack of a new deal, with Viacom using characters from their series, such as Nickelodeon's Dora the Explorer and Comedy Central's South Park, to express to viewers the shows they would be missing without any of the MTV Networks channels being aired on Time Warner Cable.