Exclusive: Investor Gabelli says he expects 10-day blackout of Viacom on Dish
Source: Reuters
Mario Gabelli, the largest owner of voting shares in Viacom Inc (VIAB.O) behind Sumner Redstone's family, told Reuters on Wednesday he expects a 10-day blackout of Viacom's programming on Dish Network Corp (DISH.O) as a midnight deadline looms on their distribution deal.
In an e-mail to Reuters, Gabelli said he hopes that after the Dish agreement is renewed, Viacom's management will turn its attention to striking a deal to sell a minority stake in Paramount, which the company announced it is looking to close later this year.
A spokesman at Viacom did not immediately return an e-mail requesting comment. Dish declined to comment.
Viacom on Tuesday began alerting Dish satellite TV subscribers that they might soon lose its networks, including Comedy Central, Nickelodeon and MTV, as an agreement between the companies was set to expire on Wednesday night.
Read more: http://www.reuters.com/article/us-viacom-dish-network-exclusive-idUSKCN0XH1Z8
whatthehey
(3,660 posts)I've already been in and out of VIAB with my usual 2% rebound sale but might be tempted to buy another tranche. No way good fundamentals like that sustain a sudden 8% drop on a silly blip like this.
ETA what the hell - in again at 35.99
ETA 2 - back out again for another 2% in two hours. No financial wizardry required to double normal savings annual interest in 2 hours in this "rigged" "casino". Just enough sense to know panic sellers overreact every damn time on pissant flare-ups like this.
silvershadow
(10,336 posts)GeorgeGist
(25,321 posts)turbinetree
(24,703 posts)hope that the homes all have local channels. you know just in case something might happen, like China, or another hit from falling airplanes, more climate change flooding in Texas, or a dust storm in the Desert, or better yet some space junk falling from the sky, nothing to worry about, its more important to squeeze out that F******king dime , so that it can be passed on to the consumer, that was told, quote....................when we get consolidation we will get better competition -------------------remember, what a F******king joke.
We will to have flags or something up on neighbors homes to let us know we are all safe and sound, better yet lets have Clear Channel, broadcast there right wing stuff telling everyone were A-OK , that's the ticket-----------------
Thank you Congress and the past administrations, you were so thoughtful at the FEC and FCC when it came to "stuff" like this great foresight........................
Honk---------------for a political revolution Bernie 2016
whatthehey
(3,660 posts)It means people might miss things like MTV, Com. Central, BET, CMT and Spike for a week or so. I think they'll survive.