Negotiations to avoid blackouts of more than 100 TV stations carried by DirecTV and U-verse extended well into the night on Wednesday as both companies faced midnight ET deadlines on contracts with two large station groups. DirecTV and Media General late Wednesday agreed to push the deadline by three hours to midnight PT after a marathon negotiating session for retransmission consent rights to 62 stations. U-verse’s talks with Tribune Media for a new retrans pact covering 24 stations stretched late into the night on Wednesday.
The station group and satellite operator have agreed to a 24-hour extension of their retransmission consent deal as talks continue. The current agreement was scheduled to expire at 7 p.m. ET this evening.
More than 150 TV stations run by Tribune Media, Tegna and Media General could disappear late Wednesday/early Thursday from Dish, DirecTV and AT&T U-Verse if carriage deals between the stations and system operators lapse. Each case appears to come down to price.
10 million television households across 10 markets are covered in new deal, which also includes the launch of CBS All Access.
Shareholders of record as of Sept. 4 will receive 14 cents per share on Oct. 1.
It will continue to occupy a portion of suburban Washington facility for 18 months after the sale to private investment group Tamares.
The increase at the former Gannett station group to $417.4 million comes from strong retrans and digital increases.
The broadcasting and digital arm, now called Tegna Inc., will run the company’s television stations and websites such as CareerBuilder. It will also include Cars.com. Tegna starts trading on the New York Stock Exchange today under the “TGNA” ticker symbol.
The separation of the broadcast and print properties is expected to be completed June 29, at which point the new Tegna broadcasting/digital company and the new Gannett will begin trading independently.