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New Yorkers were in suspense on Sunday afternoon over whether they would get to watch the 2010 Oscars telecast as Cablevision Systems Corp (CVC.N) and Walt Disney Co’s (DIS.N) ABC had not yet agreed on a new contract.

Cablevision’s 3 million New York-area customers lost broadcast signals of local station WABC-TV in the early hours of Sunday because the cable operator and the TV network were unable to come to terms.

Sunday afternoon, the pair still did not appear to have a deal even though both released statements suggesting that they were making efforts to have ABC restored to Cablevision viewers in time for the annual Oscars award extravaganza.

The station put out a statement saying that the ball was now in Cablevision’s court because it had offered a new deal.

However, a Cablevision spokesman would not acknowledge or confirm any new proposal. The cable operator instead said it would accept binding arbitration with ABC in order to immediately return ABC to Cablevision customers.