Virgin Media subscribers will be able to view basic Sky channels again after the two broadcasters finally came to an agreement over the contract.

The channels were pulled suddenly February last year, leaving fans of shows such as Lost and 24 wondering what was happening in their favourite shows, when the two companies could not agree on charges.

The spat saw the two firms initiate High Court proceedings as Virgin Media accused Sky of stifling competition with inflated charges, claiming that Sky attempted to double the price for its basic channels.

The breakthrough deal will see Sky basic channels - including Sky1, Sky News and Sky Sports News - return to Virgin Media on November 13 under a contract running to June 2011.

The agreement will also allow Sky to have continued carriage of Virgin Media's basic TV channels, such as Living and Bravo, also until June 2011.

Each will pay fixed annual carriage fees for the channels, with options to hike payments - up to a set limit - if their channels meet certain performance-related targets.

Neil Berkett, chief executive of Virgin Media, said: "We are pleased to bring our carriage negotiations with Sky to a successful close.

"I believe this agreement represents a fair deal and is the right thing for our customers."

Sky's chief executive Jeremy Darroch said the agreement was "great news".

"We want our channels to be enjoyed by as many people as possible so we're delighted to secure their return to the Virgin Media platform," he added.

© Independent Television News Limited 2009. All rights reserved.