Optimum Blasts TEGNA’s Outrageous 30% - 50% Price Hike Demand
Optimum Communications, Inc. Class A common stock (OPTU)
Company Research
Source: Business Wire
Optimum to TEGNA: We Will Not Let You Make Watching TV Unaffordable for Our Customers by Forcing a Price Hike LONG ISLAND CITY, N.Y.--(BUSINESS WIRE)--Optimum (NYSE: OPTU) today forcefully rejects excessive and unjustified demands from TEGNA, the broadcast provider behind certain local ABC, CBS, FOX, and NBC-affiliated stations and the CW. TEGNA is pursuing egregious fee increases that are divorced from market reality, including a massive 30% hike for major network affiliates and a colossal 50% increase for the CW.Rate Hikes Disconnected from RealityTEGNA is attempting to drive up costs on two fronts: imposing unjustified premiums on major networks and exploding rates for lower-viewership channels like the CW. This pricing strategy ignores the current media landscape, where consumers demand value and flexibility, and creates a total disconnect between cost and value, underscoring how much today’s programming model remains broken and outdated.“Optimum will always take a stand for
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