Alphabet (GOOGL.US) subsidiary YouTube and Fox Corporation Class B (FOX.US) announced on Thursday that they have reached an agreement, allowing YouTube TV users to continue watching Fox News, Fox Sports, and other Fox channels. The two companies did not disclose the financial terms of the agreement.

YouTube previously stated that its existing agreement with Fox Corporation Class B was set to expire and that it was actively negotiating to continue broadcasting Fox's content. YouTube said in a statement: "Fox Corporation Class B proposed fees that are significantly higher than what similar content partners charge. Our priority is to reach an agreement that reflects the value of the content and is fair to both parties, without passing additional costs onto our subscribers."

Fox Corporation Class B had previously responded in a statement: "While Fox Corporation Class B remains committed to reaching a fair agreement with Alphabet's YouTube TV streaming platform, we are disappointed by Alphabet's continued use of its enormous leverage to demand terms that do not reflect market conditions."

The dispute between the two parties even caught the attention of Federal Communications Commission (FCC) Chairman Brendan Carr. He stated that if YouTube TV removed Fox channels, it would be a "bad outcome." He said: "Millions of Americans are counting on YouTube to resolve this dispute so they can continue watching the news and sports programming they want to see."

YouTube announced on Wednesday that it had reached a short-term extension agreement with Fox Corporation Class B to prevent disruption for YouTube TV subscribers while continuing to work toward a new agreement.