The television broadcasting company formerly known as Gannett has fended off a “blackout” of its stations across all Spectrum cable TV markets.
As such, the Charter Communications MVPD did not block its subscribers from receiving the channels
In a message appearing on the WGRZ-2 in Buffalo website, TEGNA confirmed early Friday that it won a 24-hour reprieve on a 7pm deadline set for Oct. 3.
That means TEGNA and Charter had until 7pm Eastern on Oct. 4 to reach a new deal. This was pushed a few more hours. A new deal was reached over the weekend.
As of 4pm Eastern Friday, Wall Street was excited over a different sort of Charter announcement — that it was raising its prices.
This was a positive development for one financial analyst. KeyBanc’s Brandon Nispel upgraded the stock from Sector Weight to Overweight on the report alone. This sent Charter stock up 2.7% to $427.72 on Friday.
A 2am Eastern deadline on Oct. 1 was originally set for a new retransmission fee agreement.
Other stations potentially impacted by a “blackout” included WTSP-10 in Tampa and fellow CBS affiliate KFMB-8 in San Diego.
TEGNA flagship WUSA-9 in Washington, D.C., is not impacted, as Spectrum does not operate in the National Capital Region.