Verizon Communications Inc. has recently issued a warning to the customers of Fios TV stating that these viewers have chances of losing access to favorite channels such as Disney Channel, ESPN and various other networks in case it’s unable to reach to the latest carriage agreement with the premium entertainment giant Walt Disney Co. This happens to be the most recent fight between both the media companies regarding payment and carrying the content.
Although spokespersons from both the sides have said that the negotiation talks are going on, but they have not reached an agreement as of now, the talks are going on in New York and Philadelphia between the affiliates of both the sides. As of now, Fios TV representatives have said that Disney representatives have rejected the offer. The previous agreement expires on December 31.
Further, they stated that if representatives from both the sides fail to reach a deal the channels of Disney could be removed from Fios TV customers’ subscription on the eve of New year at 5 p.m. Eastern. Insiders have said that Disney is demanding few more amount for its programming due to which disagreement has arisen.
As of now, Disney sources have not given any report to the media regarding this news.
Currently, Disney Channel is running various ads during advertisement breaks to warn its viewers of the prospects. The warning and displays the message ‘Don’t lose your shows.’ Currently, Disney has almost 4.5 million subscribers through Fios TV network. After this announcement, Verizon’s shares have plunged by 0.5%, and Disney shares are up by around 3.2%.
Currently, Verizon’s Fios TV has a viewer base of around 5 million. However, in the latest quarter, the company sources said that they had lost video subscription of almost 63,000 customers since viewers are choosing to shift away from linear video offerings. Despite this loss, the company managed to add approx. 54,000 new subscribers.