NEW YORK (TheStreet) -- Shares of Verizon Wireless (VZ) are rising 0.93% to $47.73 as it partners with lifestyle content developer Scripps Networks Interactive (SNI) to stream 45 lifestyle series on its mobile platform.
Verizon is breaking into the world of mobile streaming, according to 24/7 Wall St., as it will offer content from Scripps Networks Interactive brands including Food Network, HGTV, Travel Channel, DIY Network and Cooking Channel.
"Beyond convenience, it is first-choice content on a first-choice platform," Verizon's VP of Content Strategy and Acquisition Terry Denson said. "Being able to deliver this seamlessly via mobile, to an audience that is passionate about these genres is that much more powerful."
As mobile consumption continues to increase, it's important that audiences are given the opportunity to enjoy the series and videos across the fullest possible ranges of devices, the two companies stated.
The content from this new agreement will be available to Verizon Wireless customers later this year.
On Thursday, shares of Scripps Networks Interactive are gaining 0.33% to $66.89.
Separately, TheStreet Ratings team rates VERIZON COMMUNICATIONS INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate VERIZON COMMUNICATIONS INC (VZ) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, good cash flow from operations, expanding profit margins and notable return on equity. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."