ATV and TVB will broadcast I-Cable's entire programming block, including advertisements and all related programming. However, only households with digital set-top boxes will be able to watch the programmes.
In March, i-Cable, which owns the broadcasting rights of the 2010 South Africa World Cup, extended the same offer to both channels, but both ATV and TVB declined the deal.
In a press statement, all three parties said they used their best endeavours to reach an agreement in order to serve the public interest and thanked the government for its assistance in the negotiation.
The South Africa World Cup will kick off on 11 June this year.