Tegna Deal With AT&T Avoids Blackout
Tegna said it reached a retransmission consent deal with AT&T that means subscribers of DirecTV and U-verse sufferered no interruption of service.
The companies' previous agreement expired Thursday night, and the two sides agreed to an extension and continued negotiations.
Tegna, formerly Gannett, has 46 TV stations including major network affiliates in the top 25 markets.
A blackout would have meant no football this weekend for millions of viewers, giving the broadcaster a lot of leverage at this time of year. As the first deadline came and went, each side blamed the other for the impasse and potential blackout.
Financial terms of the settlement were not disclosed.
In its third-quarter-arnings announcement, Tegna said retransmission revenues rose 19% to $109 milllion. The figure includes reverse compensation paid to the networks.
Tegna reached a long-term retransmission deal with Dish Network in October.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.