DirecTV hiking subscription fees by 4.5 percent
DirecTV (Nasdaq: DTV) said it will raise the rates on its subscription video programming packages by an average of 4.5 percent in February.
The price increase comes as rival Dish Network (Nasdaq: DISH) will hike its subscription fees by 5 percent beginning this month. DirecTV began communicating the new fees to subscribers in late December, attributing the move to increased programming costs.
"Each year the owners of television channels increase the programming fees they charge to DirecTV for the right to broadcast their movies, shows and sporting events to you. As a result, DirecTV must periodically adjust the pricing and channel lineups of our programming packages so we can continue to deliver these channels to you," DirecTV said in a statement sent to subscribers.
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