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Media Stocks Tumble Following Disney-Charter Dispute

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Posted By: Dreadnought, 9/1/2023 4:26:03 PM

Shares of several big media and entertainment companies tumbled Friday as investors considered the potential fallout from an impasse between cable giant Charter Communications and media titan Walt Disney Co. On Thursday, Disney said it had pulled major networks such as ESPN and ABC from Charter systems after the two companies could not come to terms on a renewal of their carriage license. Charter’s systems reach a little under 15 million subscribers in markets that include New York City and Los Angeles. Charter raised eyebrows Friday morning by declaring that it could not strike a traditional renewal pact with Disney while more cable subscribers were fleeing to streaming video on demand.

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Reply 1 - Posted by: Hazymac 9/1/2023 5:03:42 PM (No. 1547559)
Charter Communications was joined by Spectrum on the other side of the country, blacking out ESPN and other DIS channels. Disney, having financial problems, wants to charge more and more for their programming. ESPN is not a channel I would like to support, but I will watch it to see golf major championships or Formula 1 racing. That doesn't matter today. DIS has pulled the plug. As Chevy Chase said in Caddyshack, "Thank you very little."
8 people like this.

Reply 2 - Posted by: Rotten in Denmark 9/1/2023 5:12:32 PM (No. 1547567)
We have not had CBS nor NBC for months, esp CBS. Paramount plus is our go to for missed nitwork
3 people like this.

Reply 3 - Posted by: Starboard_side 9/1/2023 5:51:09 PM (No. 1547575)
One of the biggest scams is how the cable TV providers are essentially granted a monopoly from the city/states they operate. No competition from other cable TV providers, and that's how they all like it. So many channels aren't really worth it, but only able to survive due to the fixed fee they receive from millions of cable subscribers. When you don't have to worry about the ratings, and able to receive the $$ to continue operating, you don't have to care if you provide programing that people care to watch. Prime example is CNN - have horrible ratings, which means few people watching but able to pay huge salaries to "stars" and "talent" regardless.
11 people like this.

Reply 4 - Posted by: formerNYer 9/1/2023 7:43:59 PM (No. 1547595)
DirecTV in Nashville has not had the ABC affiliate because of a dispute with Nextstar, the few times I've needed it (Titan's preseason) I've used my digital antenna. There is absolutely nothing on ABC that I care to watch.
5 people like this.

Reply 5 - Posted by: Strike3 9/1/2023 10:00:05 PM (No. 1547663)
Death throes are normally not this much fun to watch.
8 people like this.

Reply 6 - Posted by: FJB 2022 23 24 9/2/2023 3:51:37 AM (No. 1547721)
Their stock is tumbling from a whole lot more than a charter dispute..get woke, go broke.
3 people like this.

Reply 7 - Posted by: Strike3 9/2/2023 5:31:20 AM (No. 1547735)
#1, the only sport I watch these days is golf but the days are numbered. The commercials are packed full of POC actors taking lessons and playing golf but the tournaments show us that only whites and Asians are actually playing the game. They are obviously pushing an agenda that will never see reality. It is also amusing when the match locations are in failed cities like Los Angeles, Portland, Chicago or Seattle and the announcers gush about how wonderful those cities are.
6 people like this.

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