Dish Network Corp and Walt Disney Co. had reached a short term extension agreement. This was regarding their programming deal which would avert a blackout of Disney channels including ABC and ESPN. The deal was temporary while both parties would negotiate over a long term deal.
The details of the extension agreement were not disclosed. This was according to a statement released by Dish Network today.
The extended agreement had temporarily prevented the blackout of channels including Disney Channel, ESPN and some ABC stations for millions of pay TV subscribers. More than 3 million Time Warner Cable Inc. clients had lost CBS Corp programming for a month before Dish and Time Warner agreed to a new transmission agreement last September 2. Dish Network currently has around 14 million subscribers.
The extension of the agreement would cover areas including New York, Los Angeles and Chicago.
Dish shares jumped 1.2% to USD45.01 at the trading close in New York today. The shares gained 24% this year. Disney slumped 1.1% to USD64.49 and has moved up 30% in 2013.
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