(Reuters) - Media giant Paramount Global's ( PARAA ) channels, including CBS and Nickelodeon, will be unavailable on YouTube TV starting Thursday after the two companies failed to reach a contract renewal, both parties said.

Paramount said on Wednesday that YouTube TV was attempting to pressure it into accepting "one-sided terms" and "non-market demands" that could lead to the removal of Paramount's networks from YouTube TV.

"We have made a series of fair offers to continue our long-standing relationship with Google's YouTube TV," a Paramount spokesperson said, adding that it will continue its efforts to reach a new agreement.

YouTube, owned by Alphabet, said that it is actively negotiating with Paramount to maintain the channels on YouTube TV without affecting subscribers.

"If we can't reach an agreement and their content is unavailable for an extended period of time, we'll offer subscribers an $8 credit," YouTube said in a blog.

Paramount's channels - BET, CBS, CBS Sports Network, Comedy Central, MTV, Nickelodeon and Paramount Network - are currently available on YouTube TV, and subscribers also have access to add-on services including Paramount+ with SHOWTIME and BET+.