Dish Network Corp. (DISH) - Get Free Report shares edged lower Monday after the satellite TV provider reached a multi-year deal with Fox Corp. (FOX) - Get Free Report to end a months-long dispute over carriage fees.
Dish Network said Sunday that its customers will be able to access Fox channels such as FS1, The Big Ten Network and Fox Deportes after losing access in September in various markets in twenty three states. Terms of the agreement were not disclosed.
"We appreciate our customers' patience as we worked to reach a long-term agreement that restores the Fox networks and local broadcast stations," Dish said in a statement Sunday.
Dish Network shares were marked 0.3% lower at the start of trading Monday, after surging more than 11% in pre-market, to change hands at $32.94 each, a move that would leave the stockwith a year-to-date gain of around 31%.
Dish had claimed that Fox had been demanding a double-digit percentage rate increase for Dish to carry the channel on its platform. Dish also said the company is forcing customers to carry channels they don't want as part of a plan to increase re-transmission revenue by 62% to $2.6 billion by 2022.
Dish has also been linked to a potential tie-up with AT&T Inc. (T) - Get Free Report , after reports last month suggested it could be preparing to either spin-off its DirecTV business or orchestrate a deal to combine it with Dish Network Corp.
The Wall Street Journal reported last month that AT&T, which is currently being pressured to streamline its business and improve profitability by activists investors Elliott Management, is looking at ways in which it can hive DirecTV from its broader portfolio.
Reuters, however, cited sources suggesting that regulatory issues would make a combination with Dish Network difficult and that no talks were currently taking place. The Federal government rejected a Dish/DirecTV merger proposal in 2001.
AT&T paid $49 for DirecTV in 2015, with an aim to place the satellite TV provider at the heart of the company's new media-focused expansion.
Cheaper online entertainment offerings, however, have meant that AT&T's premium video subscriber losses have topped 1.32 million over the first half of the year, with 168,000 DirecTV Now customers leaving in the second quarter, a rate the company expects to continue over the three months ending in September.