Takeaways
- Nexstar and DIRECTV have reached a carriage deal, ending DIRECTV's blackout on Nexstar television stations and the NewsNation cable news network.
- Both parties finalized the agreement after reaching a temporary agreement on Sunday.
- Both sides finalized the agreement after reaching a temporary agreement on Sunday.
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- The news came just a week after Disney and Charter ended their dispute over cable rates.
Nexstar Media Group (NXST) and DIRECTV have entered into a multi-year distribution agreement that will end DIRECTV's more than 75-day blackout on Nexstar's 176 local television stations. stations and cable news network NewsNation.
The two sides finalized the agreement after announcing a temporary agreement yesterday morning ahead of Sunday's National Football League games. The terms of the package have not been disclosed.
The news came just a week after The Walt Disney Company (DIS) and Charter Communications (CHTR) have settled their fee dispute that led Disney to cut service to Charter's Spectrum cable system. Charter had argued that the current cable TV model was flawed and needed to be overhauled because customers were paying too much for content they didn't want.
DIRECTV CEO Bill Morrow noted this trend on Monday, telling subscribers: “Unfortunately, over the last decade and more, access to your programming has become a battleground for networks and stations trying to raise prices. ”
Nexstar Media Group shares lost fell 1.3% on Monday following the news, but were still above the two-and-a-half-year low they hit earlier in the month. ” />
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Source: investopedia.com
