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Verizon Communication s ( VZ ) and Walt Disney ’s ( DIS ) ESPN are friends again after resolving their legal dispute over the sports network’s availability on a slimmed-down programming package. Terms of the settlement were not disclosed. Disney reports earnings Tuesday after the market close. Shares in Verizon were up a fraction, above 51, on the stock market today . Disney’s stock was up 1.1%, near 106.50, in afternoon trading. Verizon launched “Custom TV” in April 2015. The less-expensive programming package, with fewer channels, was designed to attract new customers for its FiOS TV service. Verizon’s base package excluded Disney’s ESPN, which garners the highest fees among cable networks. Disney sued Verizon claiming it doesn’t have rights to exclude its sports channel from TV bundles under programming deals. Verizon in February revamped its “Custom TV” package by offering two standard bundles — one with sports channels ESPN, Fox Sports and NBC Sports and one without them. Both companies on Tuesday issued statements. “We have a long-standing relationship with Verizon,” said Sean Breen, ESPN’s senior vice president, affiliate sales. “We look forward to working with them to provide great content to consumers for years to come.” Terry Denson, Verizon VP, content strategy and acquisition, said: “ESPN is an important partner of ours. We look forward to further collaborating with them to deliver customers content across all of our platforms.” Scalper1 News
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