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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 16, 2014
07:12 EDTVIA, VIABBSkyB, Discovery make joint offer for Channel 5, Bloomberg says
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April 9, 2014
15:48 EDTCVCCablevision promotes Sweeney to President, Kristin Dolan to COO
Cablevision announced the promotions of two long-time senior executives. Brian Sweeney has been named President and Kristin Dolan has been appointed COO. Along with these new positions, both were elected executive officers of the company. These leadership appointments are effective immediately and Sweeney and Dolan will report to Cablevision CEO James Dolan, who will no longer serve as president of the company.
April 8, 2014
10:23 EDTVIABHigh option volume stocks: VIAB CMCSK OHRP SA AER
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April 7, 2014
08:19 EDTVIA, VIAB'Captain America' sequel breaks records with $96.2M debut, LA Times says
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