Satellite television provider DIRECTV Inc. (DTV: Quote) Saturday responded to a news that Tribune Broadcasting has denied reaching a settlement with the company regarding contract negotiations.
DIRECTV said that it is extremely perplexed as the company and Tribune management had a handshake deal Thursday with an agreed upon rate for their channels. The company stated that Tribune's actions are tantamount to bad faith in every sense of the term.
In a statement, DIRECTV said, "We can't help but wonder whether Tribune's ability to negotiate a reasonable retransmission agreement with DIRECTV is being undermined by the complexities and competing interests in their lengthy bankruptcy process..."
"Threatening station blackouts to extract an exorbitant fee for all of Tribune's content may provide an improved return for certain banks and hedge funds, but is not in the interest of its viewers and is not a cure for bankruptcy," the company added.
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by RTT Staff Writer
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