Viacom Tumbles After Warning of Possible Blackout on DirecTV
- Company says Time Warner’s new owner favors its own content
- Programmer warns viewers of dispute in onscreen messages
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Viacom Inc., the owner of cable networks including Nickelodeon and MTV, fell as much as 4.7 percent after warning that pay-TV customers of AT&T Inc. could lose access to its movies and TV shows unless the companies reach a new programming agreement.
The shares were down 4.5 percent to $26.27 in New York after falling as low as $26.23. AT&T, the owner of DirecTV, was down as much as 0.9 percent. It’s the largest U.S. pay-TV provider with 24.5 million customers.