More Shots Fired in Viacom (VIAB), DirecTV (DTV) Saga...
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Viacom, Inc. (Nasdaq: VIAB) is now taking the offensive, following a salvo launched last week after the broadcaster blacked-out programming to DirecTV (Nasdaq: DTV) subscribers.
According to a statement on its website, Viacom said DirecTV "has moved backwards significantly and created more obstacles to reaching an agreement."
Despite recent comments from DirecTV that the two were working together to hammer-out a deal, Viacom said that, "in sharp contrast to DirecTV's public spin, it's now clear that they have no intention of working with us to expedite a resolution."
Viacom said it wanted a fair deal to replace a seven-year-old agreement, while DirecTV contended that Viacom was asking for a 30 percent increase in revenue on the deal.
Shares of DirecTV saw some pressure following the blackout last Tuesday, but have since recovered. Whether or not the exclusion of such networks as MTV and Nickelodeon is critical for DirecTV isn't clear, though subscribers are hoping a deal between the two will be worked out.
Both Viacom and DirecTV are flat in late trading Wednesday.
According to a statement on its website, Viacom said DirecTV "has moved backwards significantly and created more obstacles to reaching an agreement."
Despite recent comments from DirecTV that the two were working together to hammer-out a deal, Viacom said that, "in sharp contrast to DirecTV's public spin, it's now clear that they have no intention of working with us to expedite a resolution."
Viacom said it wanted a fair deal to replace a seven-year-old agreement, while DirecTV contended that Viacom was asking for a 30 percent increase in revenue on the deal.
Shares of DirecTV saw some pressure following the blackout last Tuesday, but have since recovered. Whether or not the exclusion of such networks as MTV and Nickelodeon is critical for DirecTV isn't clear, though subscribers are hoping a deal between the two will be worked out.
Both Viacom and DirecTV are flat in late trading Wednesday.
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