Shares of Verizon Communications (VZ) and Walt Disney (DIS) were up Monday after the two signed a new programming deal averting a blackout of ESPN and other content on Verizon's FiOS TV service. Verizon stock gained 1.7% to close at 56.22 on the stock market today while Disney rose 2.2% to 109.65.
XBut AT&T (T) and Dish Network (DISH) remain locked in a dispute heading into 2019.
Disney and Verizon on Sunday announced a contract renewal that will keep Disney broadcast and cable channels on the FiOS TV service. Verizon had nearly 4.5 million FiOS TV customers as of Sept. 30, down from $4.65 million a year earlier.
"While the power of the Disney brand and ESPN specifically likely was the deciding factor in reaching an agreement, we would not expect Verizon to be as kind as other content agreements come up for renewal," Wells Fargo analyst Jennifer Fritzsche said in a report to clients.
AT&T, Dish Dispute Drags On
With Monday's gain, Disney stock edged up 2% in 2018. Disney stock reached a 52-week intraday high of 117.28 on Nov. 8. Verizon stock ended up about 6% this year but has weakened from a high of 61.58 set on Nov. 20.
A dispute over programming fees for HBO and Cinemax between AT&T and Dish, meanwhile, will linger into 2019.
Dish's satellite TV service has lacked the two premium cable channels since early November.
AT&T acquired media giant Time Warner on June 15. The Department of Justice is appealing a court ruling that allowed the merger to proceed.
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The post Verizon, Disney Forge FiOS TV Deal, But AT&T, Dish Dispute Lingers On appeared first on Investor's Business Daily.
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