Cable stocks were down a bit with the market this morning as Time Warner Inc. (NYSE:TWX), Time Warner Cable (TWC), and Comcast Corporation (NASDAQ:CMCSA) are all lower. The one bit of possibly troubling news is the potential agreement between Major League Baseball getting the exclusive "Away-Game" pact with DirectTV Group, Inc. (NYSE:DTV). The weak stock market is hurting even DirecTV, with DTV shares down over 1% right after the open.
For a satellite company to get an exclusive on away-games is simply flabergasting. This deal is certain to have many critics. DirecTV sent a letter to the FCC on Friday detailing its $700 million deal over a 7-year period starting in 2009. Senator John Kerry has also asked the FCC to investigate the deal.
The away-game package has been available through iNDemand for some time, but this would be exclusive to DirecTV and via the league's website. INHD is available as part of the high-def offerings from cable operators and is owned by INDEMAND Networks, whose shareholders are Comcast INDEMAND Holdings, Inc., Cox Communications Holdings, Inc., and Time Warner Entertainment - Advance/Newhouse Partnership.
Cable shares punished by Major League Baseball deal
Posted Mar 5th 2007 2:46PM by Jon Ogg
Filed under: Time Warner (TWX), Comcast Cl'A' (CMCSA), Time Warner Cable (TWC)
Top growth fund manager sours on Apple, U.S. tech
New Facebook share structure hints at IPO
Before the bell: Futures higher ahead of housing, jobless data
Reader Comments (Page 1 of 1)
3-06-2007 @ 9:03AM
mike said...
One might even say the deal is flabbergasting. Get a dictionary.