AT&T (NYSE:T) and Nexstar are in the midst of a dispute that led to more than a hundred channels being blacked out for DirecTV and U-Verse subscribers.
Thursday morning was a rude awakening for subscribers of Nexstar stations as more than 120 channels in 97 markets across the U.S. went dark at 11:59 p.m. local time on July 3. This is due to the fact that Nexstar and AT&T were unable to reach an agreement as both sides said in differing statements that the other is to blame for the blackout.
Blakced out channels include ABC, CBS, FOX and NBC affiliate stations. “Nexstar has removed its channels from your lineup even though we offered Nexstar more money to keep them available to you,” AT&T said in its statement. “Nexstar simply said no and elected to remove them from your lineups instead, putting you in the middle of its negotiations.”
On the other hand Nexstar’s statement claimed that AT&T “unilaterally dropped the network and local community programming,” while also refusing to extend the existing distribution agreement to Aug. 2. Nexstar added in a statement that it owns, operates, programs or provides sales and other services to 174 full power television stations and related digital multicast signals that reach 100 markets, amounting to roughly 39% of all U.S. television households.
T stock is up about 0.9% following the news of the blackout.