Shortly after midnight on Sunday, three million New York area Cablevision (NYSE: CVC) customers lost access to their local ABC affiliate because of a disagreement between the cable operator and the broadcaster over transmission fees.

Unless an agreement is reached quickly between Cablevision and the Walt Disney Corporation, ABC’s parent company, viewers will likely miss out on watching the Oscars, as well as other popular ABC shows including Lost and Good Morning America.

The breakdown in negotiation is similar to the standoff that occurred between Time Warner Co and Fox last year.

So far, the Federal Communications Commission has stayed out of the negotiations, but some consumer groups have argued that the FCC should get involved in order to prevent viewers from missing out on their favorite programming.

Both companies released press releases Sunday morning, both which blamed their counterpart for failing to reach a deal.

“It is now painfully clear to millions of New York area households that Disney CEO Bob Iger will hold his own ABC viewers hostage in order to extract $40 million in new fees from Cablevision,” said Charles Schueler, Cablevision’s executive vice president of communications.

Walt Disney said that Cablevision isn’t paying fair rates for ABC content. WABC-7, the New York station for ABC, suggested in ads and on its Web site that Cablevision users switch paid television services.

“This follows two years of negotiations, during which we worked diligently, up to the final moments, to reach an agreement,” Rebecca Campbell, president and general manager of WABC-TV, said in a statement. “Cablevision pocketed almost $8 billion last year, and now customers aren’t getting what they pay for again. It’s time for Jim Dolan and the Dolan Family Dynasty to finally step up, be fair, and do what’s right for our viewers.”