Viacom's large channel portfolio has just gone dark for DirecTV customers. Due to disputes over programming fees between Viacom and the TV provider, viewers have lost 19 Viacom owned channels, including Nickelodeon, MTV and Comedy Central.
According to CNN, Viacom is seeking an increase of $1 billion, or a 30% increase to its current deal. The previous 7 year contract expired last-weekend, and the two companies have yet to reach a new agreement.
This demand comes as ratings across Viacom's networks have fallen, and a large deal of its shows are available for free online. DirecTV is the nation's second largest television service provider with approximately 20 million customers. On the news, Viacom is trading down over a percent, at 49.19 on an average market volume of 14,000.
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