Scalper1 News
Dish Network ( DISH ) will make some Viacom ( VIA ) cable networks available on its Sling Web TV service as part of a programming deal that sent shares of both the satellite TV broadcaster and the media company up on Thursday. Viacom stock was up nearly 11% in afternoon trading in the stock market today . Dish Network stock was up 1.5%. Terms of the programming contract renewal, announced Thursday morning, were not disclosed. The deal averted a blackout of 18 Viacom channels on Dish Network’s satellite TV service. A protracted battle might have hurt both companies, analysts say. Viacom stock is down more than 35% in the past 12 months, while Dish stock has shed about 30%. “We view the overhang removal (for Viacom) as significant and believe the deal allows the company more flexibility and time regarding options for a Paramount partial sale stake,” said Benjamin Mogil, an analyst at Stifel, in a research report. Dish stock has dropped amid investor concern over its wireless strategy. Dish has been unable to find a buyer for its wireless radio spectrum or a wireless partner to offer mobile video services. Its online video service Sling, which starts at $20 monthly, has been growing. UBS analyst John Hodulik on Thursday upped his year-end Sling subscriber estimate to 1.5 million from 1.2 million. Dish recently added a separate Sling package featuring add-on channels from 21 st Century Fox ( FOXA ). Sling will offer Comedy Central, Spike, MTV, Nick Jr. and other channels later this year under the new programming deal. Scalper1 News
Scalper1 News