Viacom® -Charter® Deal
Viacom Inc® owned cable networks might be pulled out from the channel lineup of one of the leading cable TV providers, Charter Communications® if both the parties fail to reach a new agreement by the end of the week. The officials from Viacom® recently announced that customers who have subscribed to the TV service of Charter® might lose access to Nickelodeon, Comedy Central, and MTV.
Viacom® also added that they have already made a series of offers to Charter Communications® to reach a settlement, but they were still not able to meet Charter’s conditions. The current deal between Viacom® and Charter® expires on October 15, 2017, and if this new dispute results in the blackout of channels, then it will affect approximately 16.5 million customers.
In a recent statement, officials from Viacom® said, “We have made a series of very attractive offers to Charter® that are consistent with terms we’ve recently reached with other large cable operators. Importantly, these offers would enable Charter® to lower Spectrum subscribers’ bills, while also giving them more access to shows across Nickelodeon, BET, MTV, Comedy Central and other Viacom® networks.”
The statement added, “Viacom® is committed to developing strong, mutually beneficial relationships with our distribution partners. Despite our efforts, Charter® continues to insist on unreasonable and extreme terms that are totally inconsistent with the market. While we’re making every effort to reach a new deal, Charter’s actions may force a disruption in their service.”
Leading Cable TV Provider
On the other hand, a spokesperson from Charter Communications® stated that the telecom company has decided not to comment on this issue yet. However, reports from several sources indicate that Charter® will be making a statement in a few days to address the issue.
There has been a quarrel or dispute between both the companies for a very long time and it sparked when the officials from Charter® moved the flagship networks of Viacom® to their most expensive programming tier. Some of the networks that were moved by Charter® are Comedy Central, VH1, MTV, and Spike.
The CEO of Viacom® Bob Bakish had responded about this move during that time and said, “They don’t have the contractual right to tier our services the way they have. I don’t fundamentally believe suing big customers is the way to solve problems. The better way to solve them is through engagement and exploring ways we can create value together.”
