Telecom giant AT&T has settled its dispute with media company, Cox Media Group (CMG), and agreed on a multi-year retransmission consent deal to provide CMG-owned broadcast stations to AT&T’s video customers across the country.
Financial terms of the deal were not disclosed.
Per AT&T’s (T) retransmission consent deal, CMG’s 26 local broadcast stations will be deployed in 20 Nielsen designated markets across AT&T’s video platforms including DIRECTV, AT&T TV and U-verse services.
On Friday, The Times Standard reported that AT&T had offered to pay an undisclosed amount to CMG and its owner Apollo Global Management to settle the dispute.
On Jan. 27, AT&T reported better-than-expected fourth-quarter results. Its revenues of $45.7 billion exceeded the Street numbers of $44.5 billion. The company’s 4Q earnings of $0.75 per share came in ahead of analysts’ expectations of $0.73 per share.