Big news on the DirecTV (NASDAQ:DTV) and Viacom (NYSE:VIAB)dispute. The two companies have resolved on a solution, now preventing 17 channels from being cut off for DirecTV customers. The dispute started because Viacom increased the fees associated with the distribution of their content. DirecTV said the request would be a 30% increase equal to over $1 billion over 5 years.
After DirecTV stopped carrying the channels, many of its millions of customers were frustrated. Users were able to find some of their favorite shows online but, in an act of defiance, Viacom shutdown internet streaming for all of its programming. This made DirecTV and it's customers even more frustrated. Eventually, this finally forced a solution and Viacom's channels were restored on satellite and online, much to DirecTV's dismay. Terms of the deal were not disclosed.
Each of these stocks is doing something different this morning. DirecTV is down fractionally on this news while Viacom is up over 1%. For more coverage and analysis of the business world follow us on Twitter @FNNOnline or check out our website at fnno.com.