Disney Reaches Temporary Truce With DISH Network Post Weekend Blackout

  • TV channels owned by Walt Disney Co DIS are back on DISH Network Corp DISH satellite broadcasting, and streaming platforms after the two companies tentatively agreed on a new contract.
  • The accord ended a weekend blackout that saw millions of Dish customers lose access to several popular Disney networks, including ESPN and ABC.
  • Other channels that suffered blackout included FX, Disney Channel, Freeform, National Geographic, and ABC locals in eight markets.
  • Also Read: Disney Analyst Slashes Profit Estimates To Factor In Content Sales Licensing Guidance, DTC Losses
  • DISH Network said Disney is more interested in becoming a monopolistic power than providing its programming to viewers under fair terms. Disney plans to spend billions on direct-to-consumer streaming services such as Disney+ and ESPN+, not included for DISH and SLING customers.
  • Disney charged high fees for several of its networks, including ESPN, which cost distributors nearly $9 a month, the Wall Street Journal reports, citing the research firm Kagan.
  • The report added Disney reached a "handshake agreement" with DISH Network that reflected fair market value for its content. The terms of the agreement remained undisclosed. 
  • Both companies will work to finalize the deal in the coming days.
  • Disney wants to retain the ESPN sports television network despite a deluge of offers from companies wanting to buy ESPN ever since rumors regarding a potential sale of the cable network began floating around.
  • Price Action: DIS shares closed lower by 3.20% at $94.33 on Friday.
Market News and Data brought to you by Benzinga APIs
Posted In: NewsTechMediaBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!