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Nexstar Media And Fox Renew Multi-Year Agreement
(RTTNews) - Nexstar Media Group, Inc. (NXST), and Fox Corp. (FOXA, FOX) announced Tuesday that they have reached a comprehensive multi-year agreement renewing the FOX affiliations of 29 Nexstar-owned stations across the U.S., including those in six of the country's top twenty markets.
In addition, Fox Corp. has reached agreements to renew the FOX affiliations of 12 stations that have shared services agreements with Nexstar, 11 of which are owned by Mission Broadcasting, Inc., and one of which is owned by White Knight Broadcasting, Inc.
Collectively, these 41 television stations renewing their FOX affiliations reach almost 22 million television households. Financial terms of these agreements were not disclosed.
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Disney's ESPN, FOX, Warner Bros. Discovery To Launch Streaming Sports Service
Media companies ESPN, a subsidiary of Walt Disney Co., along with FOX and Warner Bros. Discovery are joining together to launch a streaming sports service in the United States in the fall of 2024. The companies have reached an understanding on principal terms to form a new joint venture to provide sports content all in one place outside of the traditional bundle.
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DIRECTV, Nexstar Reach Multi-Year Distribution Agreement
DIRECTV Group Inc.(DTV) and Nexstar Media Group, Inc. (NXST) on Monday have officially reached a comprehensive new multi-year distribution agreement covering 176 Nexstar-owned local television stations and the company's national cable news network, NewsNation. Terms of the agreements were not disclosed.
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Fox Q3 Results Top Estimates
Fox Corp. on Tuesday reported a net loss for the third quarter compared to a profit last year, primarily reflecting charges associated with legal settlement costs at FOX News Media. Both adjusted earnings per share and quarterly revenues topped analysts' expectations. The company also authorized a $7 billion stock repurchase program.
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Asian Shares Advance On US-China Trade Talk Hopes
Asian stocks advanced on Wednesday after confirmation that trade talks between the U.S. and China would take place in Switzerland this week, the first formal talks between the countries since U.S. President Donald Trump declared sweeping tariffs last month.
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Yen Slides Amid Risk-on Mood
The Japanese yen weakened against other major currencies in the Asian session on Wednesday amid increased risk-on by the investors, as traders react to China's central bank saying it would cut its key policy rate by 10 basis points and lower the reserve requirement ratio by 50 basis points to boost growth. There is also confirmation that U.S. and Chinese officials are set to start formal trade talks this week.
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Yen Slides Against Majors
The Japanese yen weakened against other major currencies in the Asian session on Wednesday.
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China Unveils Monetary Easing Measures
The People's Bank of China reduced its benchmark interest rate and reserve requirement ratio and also unveiled a slew of measures to support economy hit by trade tariffs. The PBoC cut the 7-day reverse repo rate by 10 basis points to 1.4 percent. The new rate takes effect on May 8.
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European Shares Seen Up As China Eases Policy To Boost Growth
European stocks are seen opening broadly higher on Wednesday after chipmaker AMD reported better-than-expected earnings results and Chinese authorities announced a raft of stimulus measures, including interest rate cuts and a major liquidity injection, to help boost the economy.
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