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Will Comcast, Charter Communications Extend Carrier Deal?
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Comcast Corp. (CMCSA - Free Report) and Charter Communications Inc. (CHTR - Free Report) recently decided to extend negotiations to find an agreeable solution regarding the existing carrier deal, which has ended on Dec 31, 2016. Comcast’s media wing NBC Universal offers several TV channels including “Sunday Night Football,” MSNBC, CNBC, Telemundo, Bravo, E!, USA Network, Syfy, and Oxygen to the Spectrum TV subscribers of Charter Communications.
Ever since Charter Communications acquired Time Warner Cable and BrightHouse in 2016, the company has been trying to get better deals from content providers and programmers. In Jul 2016, Fox News, a unit of Twenty-First Century Fox Inc. (FOXA - Free Report) , sued the cable operator claiming the company breached its contract by trying to apply Time Warner Cable’s channel carriage rates and was not abiding by an agreement it signed with Fox to distribute Fox News Channel and Fox Business Network.
Notably, in the same month, Hispanic TV network Univision Communications Inc., a subsidiary of Mexican cable TV and media behemoth Grupo Televisa SA (TV - Free Report) sued Charter Communications accusing the U.S. cable company of breaching its TV carriage contract.
In a separate but related development, Comcast finally puts an end to its 13-month old battle with Twenty-First Century Fox over carriage of the YES Network in the New York City area. Comcast signed a new pact with Twenty-First Century Fox on Jan 1, 2017. This new deal will see the continuance of Fox News, the restoration of the Fox regional sports channel YES, and the addition of 12 other Fox-owned regional sports channels. The previous deal to carry Fox News expired on Dec 31, 2016.
Price Performance of Comcast
2016 was extremely good for Comcast’s investors. Last year, the stock returned 24.10%, outshining the cable TV industry’s gain of 18.35%. Nevertheless, cable TV industry is facing massive cord-cutting threat and Comcast is no exception to the trend. We believe that is the primary reason behind the stock currently carrying a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
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Will Comcast, Charter Communications Extend Carrier Deal?
Comcast Corp. (CMCSA - Free Report) and Charter Communications Inc. (CHTR - Free Report) recently decided to extend negotiations to find an agreeable solution regarding the existing carrier deal, which has ended on Dec 31, 2016. Comcast’s media wing NBC Universal offers several TV channels including “Sunday Night Football,” MSNBC, CNBC, Telemundo, Bravo, E!, USA Network, Syfy, and Oxygen to the Spectrum TV subscribers of Charter Communications.
Ever since Charter Communications acquired Time Warner Cable and BrightHouse in 2016, the company has been trying to get better deals from content providers and programmers. In Jul 2016, Fox News, a unit of Twenty-First Century Fox Inc. (FOXA - Free Report) , sued the cable operator claiming the company breached its contract by trying to apply Time Warner Cable’s channel carriage rates and was not abiding by an agreement it signed with Fox to distribute Fox News Channel and Fox Business Network.
Notably, in the same month, Hispanic TV network Univision Communications Inc., a subsidiary of Mexican cable TV and media behemoth Grupo Televisa SA (TV - Free Report) sued Charter Communications accusing the U.S. cable company of breaching its TV carriage contract.
In a separate but related development, Comcast finally puts an end to its 13-month old battle with Twenty-First Century Fox over carriage of the YES Network in the New York City area. Comcast signed a new pact with Twenty-First Century Fox on Jan 1, 2017. This new deal will see the continuance of Fox News, the restoration of the Fox regional sports channel YES, and the addition of 12 other Fox-owned regional sports channels. The previous deal to carry Fox News expired on Dec 31, 2016.
Price Performance of Comcast
2016 was extremely good for Comcast’s investors. Last year, the stock returned 24.10%, outshining the cable TV industry’s gain of 18.35%. Nevertheless, cable TV industry is facing massive cord-cutting threat and Comcast is no exception to the trend. We believe that is the primary reason behind the stock currently carrying a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>