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Pay TV industry shows cracks in media earnings

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FILE- In this Jan. 5, 2015 file photo, Joe Clayton, president and CEO of Dish Network, introduces the Sling TV, a live television streaming service, at a news conference at the International CES in Las Vegas. Dish said its satellite TV subscriber losses accelerated in the quarter through June, falling 81,000 to 13.9 million, nearly double the loss of 44,000 a year ago. Analysts say that popular channels like ESPN would likely survive any dramatic shift in consumer preference toward online channel packages like Sling TV, which at $20 a month, is far cheaper than traditional pay TV packages. (AP Photo/Jae C. Hong, File)

LOS ANGELES (AP) -- Further cracks emerged this week in the pay TV bundle as media companies and distributors indicated that more people are cutting the cord and ditching pricey channel packages. Meanwhile, media company executives did damage control, putting a positive spin on the prospect of selling individual channels online.

Disney's stock tumbled 9 percent Wednesday, a day after reporting that it was trimming its forecast for TV subscriber-fee profit growth through next year because of subscriber losses at its flagship ESPN sports network. Other channel...


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