Charter Communications (Nasdaq: CHTR) said it agreed to a new retransmission-consent contract with LIN TV (NYSE: TVL), hours before the broadcaster planned to pull its TV stations from subscribers in Alabama, Michigan, Wisconsin, North Carolina, Oregon and New England.
"This is a win for Charter customers, who will continue to enjoy LIN's broadcast TV from Charter. We appreciated our customer's patience and support as we worked through these negotiations, protecting their best interests," said Charter spokeswoman Anita Lamont.
Earlier this week, Charter said that LIN was demanding a 150 percent increase in retransmission-consent fees to carry stations that air programming from CBS, Fox, NBC, ABC, My NetworkTV and The CW. Charter and LIN didn't disclose terms of the agreement.
Meanwhile, with DirecTV's (Nasdaq: DTV) retransmission-consent deal with Gannett Broadcasting scheduled to expire today, the satellite TV provider still hasn't agreed on terms with the station group owner. DirecTV could lose the feeds for ABC, CBS and NBC affiliates in 23 markets if it doesn't sign a new deal with Gannett.
DirecTV may lose ABC, CBS, NBC affiliates owned by Gannett
LIN TV threatens to pull CBS, NBC, Fox stations from Charter Communications