El Segundo, California- based Viacom, Inc’s (NASDAQ:VIAB) 26 channels, comprising MTV, Nickelodeon and Comedy Central, went dark for around 20 million DIRECTV (NASDAQ:DTV) subscribers just before midnight on Wednesday as the corporations failed to make a fresh programming fee deal.
DirecTV, the biggest United States satellite TV service, reported in an e-mailed statement that the Viacom demanded the networks be fell and would not react to a latest offer sent on July 9.
DirecTV’s executive vice president of content, strategy and development Derek Chang reported in the statement on Wednesday in the New York time that they have been very willing to get a verdict done, but Viacom is nearly DirecTV users to pay over a 30% boost. Derek Chang further reported that the Viacom sent them a letter previous night that outlined their obligations to remove the channels by midnight or face legal action.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. The Walt Disney Company (NYSE:DIS) fell -0.19% to settle at $47.27, Scripps Networks Interactive, Inc. (NYSE:SNI) moved down -1.46% to end at $53.35 while Time Warner Inc. (NYSE:TWX) jumped +0.98% to finish on Wednesday at $38.10.
Viacom, Inc. (NASDAQ:VIAB) last session volume of 3.69 million shares was higher than its average volume of 4.45 million shares. The stock after opening at $46.75 hit high price of $47.32 and then closed at $46.73 by scoring -0.28%.
The liquidity measure in recent quarter results of the company was recorded 1.19 as current ratio and on the other side the debt to equity ratio was 1.00 and long-term debt to equity ratio also remained 0.99. The Company had total cash at hand $1.14 billion and a book value per share as $14.72 in the most recent quarter.
The stock price volatility was 1.65% for a week and 2.00% for a month as well as price volatility’s Average True Range for 14 days was 0.99 and its beta remained 1.20.
VIAB generated revenue of 15.10 billion in the following twelve months and earned $2.33 billion. The Company showed a positive 15.71% in the net profit margin and as well as in its operating margin which remained +25.41%. Company’s quarterly sales growth was 1.96%.
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