YouTube and Fox announced Friday that the companies had reached a deal to keep Fox News, Fox Sports and other Fox channels available on YouTube TV, following negotiations over a new distribution agreement.

The companies had earlier reached a short-term extension to prevent disruptions for YouTube TV subscribers.

"We're pleased to have reached a deal that preserves the value of our service for our subscribers," YouTube said in a statement shared with CNBC. YouTube, owned by Alphabet , as well as Fox did not disclose the financial terms of the agreement.

YouTube had said Monday that Fox was asking for payments "far higher than what partners with comparable content offerings receive."

That comes after Fox launched Fox One, a standalone streaming service last week, costing

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