DISH customers, rejoice! A settlement between Cablevision Systems Corporation and DISH has come just in time to get Episode 2 of the popular AMC series “The Walking Dead” back on screens tonight! Who says the squeaky wheel doesn’t get the oil?
From the Press Release
Cablevision Systems Corporation (NYSE: CVC) and AMC Networks (NASDAQ: AMCX) today announced that they have settled their litigation with DISH Network LLC (NASDAQ: DISH) related to VOOM HD Holdings LLC. The lawsuit, VOOM HD Holdings LLC v. EchoStar Satellite LLC, was filed in the Supreme Court of the State of New York, County of New York.
The settlement agreements include the following components:
DISH Network pays a cash settlement of $700 million to Cablevision and AMC Networks, $80 million of which is in consideration for the purchase of Cablevision’s multichannel video and data distribution service (MVDDS) licenses in 45 metropolitan areas in the U.S.
DISH Network enters into a long-term distribution agreement with AMC Networks to carry AMC, IFC, Sundance Channel and WE tv, and with The Madison Square Garden Company to carry Fuse on its satellite service; DISH also conveys its 20-percent membership interest in VOOM HD to Rainbow Programming Holdings LLC, such that all of the cash settlement remains with Cablevision and AMC Networks.
Promptly after payment of the cash settlement is received, the parties will file a joint stipulation to dismiss the lawsuit with prejudice. The allocation of the settlement proceeds between Cablevision and AMC Networks will be determined pursuant to the existing agreement relating to this litigation between the two companies.
Said Josh Sapan, President and CEO, AMC Networks: “We are glad to partner again with DISH Network and are delighted to bring back our popular channels and programming to their customers.”
To stay up-to-the-minute on all things walker related, follow @WalkingDead_AMC on Twitter and visit “The Walking Dead” on Facebook. For more be sure to hit up the official “The Walking Dead” page on AMC.com.
Got news? Click here to submit it!
“Like” us on the Dread Central Facebook Fan Page!
Discuss “The Walking Dead” in the comments section below!