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4-Traders Homepage  >  Equities  >  Nasdaq  >  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

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 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
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Financials ($)
Sales 2017 41 654 M
EBIT 2017 4 848 M
Net income 2017 989 M
Debt 2017 64 010 M
Yield 2017 -
P/E ratio 2017 91,16
P/E ratio 2018 46,34
EV / Sales 2017 3,96x
EV / Sales 2018 3,80x
Capitalization 101 B
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 407 $
Spread / Average Target 16%
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NameTitle
Thomas M. Rutledge Chairman & Chief Executive Officer
John Bickham President & Chief Operating Officer
Christopher L. Winfrey Chief Financial Officer & Executive VP
James A. Blackley EVP-Engineering & Information Technology
W. Lance Conn Independent Director
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