After a tough few days of negotiations and threats of a blackout, AT&T’s DirecTV has renewed its deal to carry Viacom’s channels. The two parties did not disclose terms of the agreement.
The fact that the two struck a deal may seem like an apparent win for Viacom’s CEO Bob Bakish, who has made repairing relations with cable and satellite companies a top priority. However, the devil will be in the details as investors try to parse out if AT&T agreed to pay more to carry Viacom’s channels than in their previous deal and whether Viacom made any major concessions to get the deal done.
What kind of terms Viacom was able to get will also have an impact on how things progress with discussions between CBS and Viacom about merging, a deal that many people have expected to be announced early this year. For Mr. Bakish, such details could determine whether he is CEO of a combined company or not.