UPDATE 1-Viacom, AT&T renew contract, avoid DirecTV blackout
Viacom Inc has renewed its carriage contract with AT&T Inc, avoiding a blackout of MTV, Nickelodeon and Comedy Central for users of the telecom carrier's pay TV service DirecTV, the companies said on Monday. Viacom needed to resolve the AT&T contract before considering any other strategic moves including a potential tie-up with CBS Corp, sources told Reuters on Friday. Shares of Viacom rose nearly 4 percent to $26.30 before the opening bell, while those of AT&T were marginally higher. "We are pleased to announce a renewed Viacom-AT&T ...
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