logo
  Join        Login             Stock Quote

Cablevision (CVC) Files Suit Against Viacom (VIA) Over Programming Services

 February 26, 2013 12:34 PM
 


(By Balachander) Cablevision Systems Corp. (NYSE: CVC) has filed an antitrust lawsuit against Viacom Inc. (NASDAQ: VIA) for illegally forcing purchase of programming services.

Cablevision alleged that Viacom illegally forced the company to carry and pay for 14 far less popular ancillary channels its customers do not want, such as Palladia, MTV Hits and VH1 Classic, to carry must-have networks such as Nickelodeon, Comedy Central and MTV.

Viacom coerced Cablevision by threatening to impose massive financial penalties unless Cablevision complied with Viacom's demands, the company said.

[Related -Harmonic Inc (HLIT): Profit From The Rise Of Mobile Video With This Stock]

"Viacom effectively forces Cablevision's customers to pay for and receive little-watched channels in order to get the channels they actually want," Cablevision said.

In addition, the lawsuit also asserts that Viacom has engaged in unlawful "block booking," which is a form of tying that conditions the sale of a package of rights on the purchaser's taking of other rights.

Cablevision is seeking a permanent injunction barring Viacom from conditioning carriage of any or all of its core networks on its licensing any or all of Viacom's ancillary networks.

CVC shares traded 0.40 percent higher at $15.08 on Tuesday. VIA shares shed 0.22 percent to trade at $59.97.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageOmniVision Technologies, Inc. (OVTI) Q1 Earnings Preview: Hard to See Sales Up, EPS Down

OmniVision Technologies, Inc. (NASDAQ:OVTI) will release its financial results for the first quarter of read on...

article imageAvago Technologies Ltd. (AVGO) Q3 Earnings Preview: Going For 20 in a Row

Avago Technologies Ltd. (NASDAQ:AVGO) will report its third quarter fiscal year 2014 financial results and read on...

article imageLevel 3 Communications, Inc. (LVLT): A Good Time To Buy Says Macquarie

On a day Wall Street is struggling to advance, Level 3 Communications, Inc. (NYSE:LVLT) is having no such read on...

article imageAbercrombie & Fitch Co. (ANF) Q2 Earnings Preview: The Unkind Quarter

Abercrombie & Fitch Co. (NYSE:ANF) will be holding its second quarter 2014 earnings conference call for all read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.