Encouraging Words in Viacom-DirecTV Dispute Bloomberg
A deal to restore Viacom's cable networks to DirecTV's roughly 20 million customers is drawing closer, reports Bloomberg, citing DirecTV's head of content.
“There’s been progress,” Derek Chang, DirecTV’s executive vice president of content, strategy and development, tells the news service. "We’ve been getting closer. We would love to be done with this thing, but we have to do it in a way that we can protect our customers.”
Viacom wants a 30% rate increase over the term of the contract, which would create an additional $1 billion in costs, Chang said. Viacom has said its fees account for less than 5% of DirecTV's programming expenses.
A Viacom spokesman declined to comment.