CBS shares rose as much as 3.5 percent, the most since May 30, to $50.92 in New York trading. AT&T gained as much as 0.7 percent.
Fights between the networks and TV distributors have become more common as both sides suffer from declining subscriptions to cable and satellite. U.S. pay-TV operators are on pace to report losses of about 1.5 million subscribers for the second quarter of 2019, which would be the worst on record.
CBS has been one of the most aggressive companies in seeking increases in compensation from pay-TV providers that carry its network. Such fees grew to $1.6 billion in 2018, according to company documents.