Reuters reports Viacom says it's made a series of offers to Charter Communications, Spectrum's parent company, but can not meet Charter's "unreasonable" demands. Those Viacom networks include MTV, Nickelodeon, Nick Jr., BET, Comedy Central and Spike, which will become the Paramount Network in January.
"Despite our efforts, Charter continues to insist on unreasonable and extreme terms that are totally inconsistent with the market", Viacom said in its statement.
Analytical Report on Patterson-UTI Energy Inc. (PTEN)
For the past 5 years, Patterson-UTI Energy, Inc.'s EPS growth has been almost -25%. (NASDAQ:PTEN) rating on Wednesday, July 13. The company's net profit margin has achieved the current level of -23.8 percent and possesses 25.2 percent gross margin.
Analysts said they believe Viacom is willing to accept a lower rate in returned for carriage of its flagship networks on Charter's most-popular tier of service. "While we're making every effort to reach a new deal, Charter's actions may force a disruption in their service".
"We are negotiating with Viacom in good faith, have offered a fair price, and we are optimistic that a fair deal can be reached", Spectrum said on their Facebook page Thursday evening.
Sung Hyun Park shares the lead in LPGA KEB Championship
Ryu would have to settle for an even par 71 while Thompson signed for three under 69. My only hope at this point is that I maintain this.
The current deal between Spectrum and Viacom is four years old, according to keepviacom.com, a website aimed at urging Spectrum customers to contact the cable provider and tell them they want to keep the channels.
Spectrum cable customers may lose several TV channels due to a contract dispute, Viacom Inc. warned Wednesday.
1 dead in semi-truck crash on Highway 115
The driver of the Ford pickup truck, identified as Robert Taylor, 24, of Lufkin was pronounced dead at the scene. A 1999 Kenworth was traveling northbound in the left lane when the Nissan collided with the Kenworth head-on.
The current deal between Charter and Viacom expires October 15, according to a person familiar with the situation who declined to be identified.