Verizon renews and expands carriage deal with A&E Networks
Verizon Communications Inc. said on Wednesday it has renewed its carriage agreement with A&E Networks expanding programming from A&E, including from Lifetime, the History channel and Viceland across Verizon's media brands, including Yahoo and AOL. A&E is co-owned by Walt Disney Co. , Comcast Corp.'s NBCUniversal and Hearst Communications. The new deal will also give Verizon first rights to content from A&E's in-house digital content producer 45th & Dean. "This partnership expansion is yet another example of how we're fueling our new Oath media brands," said Brian Angiolet, Verizon's chief media and content officer, in a statement. This deal follows an announcement Verizon made last month that the company had entered a deal with the National Football League to stream games beginning in January. Shares of Verizon have declined close to 4% in the trailing 12-month period. By comparison, the S&P 500 index is up 20% and the Dow Jones Industrial Average is up almost 25%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.