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Stock Market & Financial Investment News

News Breaks
February 26, 2013
11:44 EDTCVC, VIAB, VIACablevision files antitrust suit against Viacom over bundled programming
Cablevision Systems (CVC) announced it filed an antitrust lawsuit against Viacom (VIA, VIAB) in federal court in Manhattan. Cablevision alleges Viacom illegally forced it to carry and pay for 14 lesser-watched ancillary networks its customers do not want, such as Palladia, MTV Hits and VH1 Classic, in order to carry must-have networks such as Nickelodeon, MTV and Comedy Central. Cablevision's complaint asserts that Viacom engaged in a "per se" illegal tying arrangement in violation of the federal antitrust laws. Cablevision's antitrust lawsuit also asserts that Viacom has engaged in unlawful "block booking," which is a form of tying that conditions the sale of a package of rights on the purchaser's taking of other rights. Cablevision said Viacom's conduct also violates the Donnelly Act in New York State Law, which parallels federal anti-trust laws. The complaint was filed under seal and a public version is not yet available. Cablevision said it is seeking a number of remedies including: Declaratory relief voiding the December 2012 carriage agreement; a permanent injunction barring Viacom from conditioning carriage of any or all of its core networks on Cablevision's licensing any or all of Viacom's ancillary networks; to effectuate the permanent relief, a requirement that Viacom permit Cablevision to carry the core networks and ancillary products on terms pending negotiation of a new, lawful agreement; treble damages and legal fees. Cablevision indicated that there would be no immediate disruption in programming offerings pending the resolution of this matter.
News For CVC;VIA;VIAB From The Last 14 Days
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April 17, 2015
15:28 EDTCVCCable stocks should be bought on weakness, says FBN Securities
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April 13, 2015
11:56 EDTVIAB, VIAMedia companies look to back away from Nielsen guarantees for ads, Variety says
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April 8, 2015
08:56 EDTVIAViacom multiple compression overdone, says RBC Capital
RBC Capital believes that Viacom is facing a number of headwinds, but the firm thinks that the stock's multiple compression is overdone given what it sees as the company's largely visible affiliate revenue outlook and cost savings from restructuring. The firm believes that Viacom "offers a compelling combination of growth and value." RBC cut its price target on the name to $80 from $88 but keeps an Outperform rating on the shares.
April 7, 2015
12:50 EDTCVCHBO NOW available to Apple and Optimum Online customers
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April 6, 2015
16:12 EDTVIA, VIABViacom to temporarily pause share repurchases
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16:10 EDTVIA, VIABViacom sees $350M annual cost savings from strategic realignment
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16:08 EDTVIA, VIABViacom to recognize $785M pre-tax charge as part of strategic realignment
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