Walt Disney Co. reached an agreement with YouTube that will give the online video service access to Disney channels, according to media reports.
YouTube tweeted on Sunday that it was “happy to announce that we’ve reached a deal with Disney and have already started to restore access to channels like ESPN and FX, and Disney recordings that were previously in your library. Your local ABC station will also be turning on throughout the day.”
Financial terms of the deal between the Burbank entertainment and media giant and the San Bruno-based video sharing and social network platform, owned by Google, were not disclosed.
Reuters reported on Monday that YouTube warned last week that it would only renew its agreement with Disney if the company offered “equitable terms.” The wire service added that YouTube would cut the monthly price of YouTube TV by $15 from $64.99 to $49.99 for however long the Disney channels were unavailable.
The Disney channels were not available for two days and on Sunday, YouTube said a monthly subscription was back to $64.99 but that affected users would receive a one-time $15 discount, Reuters said.
“We appreciate Google’s collaboration to reach fair terms that are consistent with the market,” Disney said in a statement on Sunday, Reuters reported.
Shares of Disney (DIS) closed Monday down $2.29, or about 1.5 percent, to $146.47 on the New York Stock Exchange, on a day when the Dow Jones market closed down 1.2 percent.