With the clock ticking last night on a new retransmission contract between Time Warner Cable and CBS, the two companies announced an extension that runs through 5 p.m. Monday.

The second extension was announced at 11 p.m. EDT last night ahead of the  9 a.m. deadline on Thursday.

The two sides have been locked in a contract squabble ever since the previous contract expired on June 30. While the two sides agreed to an extension, the threat of a blackout of CBS’ programming has loomed in Time Warner Cable markets such as New York City, Dallas and Los Angeles.

The retransmission dustup centers around six local CBS TV stations that potentially could go dark for around 3 million Time Warner Cable customers in New York, Los Angeles and Dallas if a new deal isn’t reached.

The squabble could also lead to a blackout of CBS-owned Showtime for those of the 11.9 million Time Warner Cable video customers nationwide who pay extra to watch it.

Time Warner Cable has said that CBS was gunning for a 600 percent increase on fees compared to what it pays elsewhere. CBS has said Time Warner Cable wasn’t willing to pay the same fees that other cable, telco and satellites providers have agreed to.

CBS has ran ads in Los Angeles, New York and Dallas warning Time Warner  Cable subscribers that the network may have to pull the plug on its programming when the last extension ran out.

Time Warner Cable has said it would recommend antenna and cloud-based DVR company Aereo, which serves areas of New York city, as an alternative if CBS followed through on its blackout threat.