Bruised by its summer fight with CBS Corp., and under takeover pressure, Time Warner Cable Inc. is making nice with TV channel owners.

On Tuesday, the No. 2 cable operator by video subscribers said it signed a deal with Viacom Inc. renewing its right to carry channels such as Nickelodeon, MTV and Comedy Central. As part of the deal, struck in advance of a year-end deadline, Time Warner Cable for the first time agreed to carry Viacom's partly owned premium channel Epix. The cable operator also agreed to increase the fees it...