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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Charter Communications Inc    CHTR

CHARTER COMMUNICATIONS INC (CHTR)
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Charter Communications : Viacom warns of disruption as negotiations with Charter stall

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10/12/2017 | 03:00am CEST
FILE PHOTO: A woman exits the Viacom Inc. headquarters in New York

(Reuters) - Viacom Inc (>> Viacom) said on Wednesday that Charter Communications (>> Charter Communications Inc) subscribers may lose access to its channels such as MTV, Comedy Central and Nickelodeonon as the expiration looms for a distribution deal between the companies.

(Reuters) - Viacom Inc (>> Viacom) said on Wednesday that Charter Communications (>> Charter Communications Inc) subscribers may lose access to its channels such as MTV, Comedy Central and Nickelodeonon as the expiration looms for a distribution deal between the companies.

Viacom said it had made a series of offers for a deal with Charter but could not meet the conditions asked by Charter.

"While we're making every effort to reach a new deal, Charter's actions may force a disruption in Spectrum subscribers' service," Viacom said in a statement.

The current deal between Charter and Viacom expires Oct. 15, according to a person familiar with the situation who declined to be identified. A blackout would hit 16.5 million subscribers.

A spokesman for Charter declined to comment.

Earlier this year, Charter moved Viacom's flagship networks to its most expensive programming tier, a move that threatened the media company's affiliate and advertising revenue.

This marks the first major affiliate dispute for Viacom since CEO Bob Bakish took over last year. Bakish has made it a priority to improve relations with distributors.

Viacom is in the midst of a turnaround plan to improve ratings and ad revenue.

Like many of its peers, Viacom is struggling to keep viewers as more watch on smartphones and tablets. Six of the largest U.S pay TV providers posted subscriber losses during the past quarter.

Shares of Viacom were marginally down in extended trading, while Charter shares were unaffected.

(Reporting by Tamara Mathias in Bengaluru and Jessica Toonkel in New York; Editing by Jonathan Oatis and Cynthia Osterman)

Stocks treated in this article : Viacom, Charter Communications Inc
Stocks mentioned in the article
ChangeLast1st jan.
CHARTER COMMUNICATIONS INC 0.06% 329.99 Delayed Quote.-1.84%
VIACOM 3.58% 31.83 Delayed Quote.-0.26%
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Financials ($)
Sales 2018 43 620 M
EBIT 2018 5 155 M
Net income 2018 1 127 M
Debt 2018 71 693 M
Yield 2018 -
P/E ratio 2018 75,27
P/E ratio 2019 45,40
EV / Sales 2018 3,40x
EV / Sales 2019 3,29x
Capitalization 76 466 M
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 377 $
Spread / Average Target 14%
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Managers
NameTitle
Thomas M. Rutledge Chairman & Chief Executive Officer
John Bickham President & Chief Operating Officer
Christopher L. Winfrey Chief Financial Officer
James A. Blackley EVP-Engineering & Information Technology
W. Lance Conn Independent Director
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