DISH Network Corp (NASDAQ:DISH) Will Support Disney
DISH Network Corp (NASDAQ:DISH) and Disney have announced that they have now extended their carriage contact for a short-term and Disney’s channels will continue to be aired on the former’s network. This deal had been sealed in 2005 and both the companies have said that they will continue discussions around the contract that is set to expire at the end of October. The DISH Network Corp (NASDAQ:DISH) network currently carries channels such as ESPN, ABC Family, Disney Channel and ABC-owned stations in NY, LA, Chicago, San Francisco, Philadelphia, Houston, Fresno and Raleigh-Durham. The companies have not disclosed any other details.
The network wars
It was hardly a month ago that the CBS and Time Warner settled their own dispute that eventually cost customers of TWC 32 full days of programming from CBS. Charlie Ergen, DISH Network Corp (NASDAQ:DISH) chairman has been complaining for a long time now about the cost of the rights to air sports. In February he said that the revenue loss from the 14.1M subscribers that Dish has would prove to be long-term issue for Disney. Bob Iger, Disney’s CEO had defended the price-hikes that ESPN had brought in, last year.
He attributed it to the rise in sports costs and the dismal economic conditions over the last few years. ABC and DISH Network Corp (NASDAQ:DISH) are embroiled in another standoff and the network is also suing the satellite network over its advertisement skipping Hopper DVR.
Wednesday’s trading session
In Wednesday’s trading, DISH Network Corp (NASDAQ:DISH) rose by 5.04%. The shares opened at a price of $45.52, climbed to an intraday high of $48.04 and dipped to a close of $47.98. Approximately 6.73 million shares were traded on Wednesday while an average volume of 2.27 million shares were traded over a 30 day period. The 52-week low of the company’s shares is $30.29 and its 52-week high is $49.44.