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Sergey Savastiouk's Avatar
published in Blogs
Mar 25, 2019
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Viacom (VIAB, $26.97), AT&T (T, $30.80) renew distribution contract; Viacom stock has record climb on the news

Viacom shares rose the most in seven months on Monday, after it announced the renewal of its distribution deal with AT&T.

Earlier, Viacom had warned viewers of its conflict with Time Warner-owner AT&T, and had accused AT&T of bias towards the latter’s content. Viacom had also previously said that it offered options to AT&T to reduce customers’ bills. AT&T had hit back claiming that some of Viacom’s channels were losing popularity, and called it “a serial bad actor” in negotiations with pay-TV companies.

If the dispute hadn’t been resolved, DirecTV customers could have lost access to Viacom channels like Nickelodeon, BET, MTV, Comedy Central and Paramount. "We are pleased to announce a renewed Viacom-AT&T contract that includes continued carriage of Viacom services across multiple AT&T platforms and products," the companies said in a statement Monday.

Viacom shares surged as much as +8% on the news.

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published General Information

General Information

a company that owns and operates cable networks and media businesses

Industry MoviesEntertainment

Profile
Fundamentals
Details
Industry
Movies Or Entertainment
Address
1515 Broadway
Phone
+1.212.975.4321
Employees
N/A
Web
http://www.viacbs.com
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