DIRECTV Rejects Nexstar's Offer To Extend Agreement To October 31
Portfolio Pulse from Charles Gross
DIRECTV has removed programming provided by Nexstar Media Inc., a subsidiary of Nexstar Media Group, Inc. (NASDAQ:NXST), from its systems due to the failure to reach a new distribution agreement. DIRECTV also rejected Nexstar's offer to extend the current distribution agreement to October 31, 2023. This has resulted in millions of Americans losing access to local news, sports, and entertainment programming.
July 02, 2023 | 11:45 pm
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NEGATIVE IMPACT
Nexstar Media Group's inability to reach a new distribution agreement with DIRECTV could negatively impact its reach and potentially its revenues.
Nexstar Media Group relies on distribution agreements to reach its audience. The failure to renew the agreement with DIRECTV means a significant loss in audience, which could translate into lower advertising revenues.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
DIRECTV, a subsidiary of AT&T Inc. (NYSE:T), may face backlash from subscribers due to the removal of Nexstar Media's programming.
DIRECTV's decision to remove Nexstar Media's programming could lead to dissatisfaction among its subscribers, potentially leading to subscriber loss and impacting revenues.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80