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Viacom charges AT&T lower rates for channels in favor of overall growth

Gina Hall
Viacom charges AT&T lower rates for channels in favor of overall growth

Viacom has agreed to take less money for its channels in hopes that it will spur long-term growth. The New York-based media company (NASDAQ: VIA) agreed to terms earlier this year with AT&T (NYSE: T) that will see it collect smaller payments from AT&T to carry its channels, according to The Wall Street Journal. In return, Viacom will see annual rate increases during the multiyear deal and now has a advertising partnership with AT&T,  which is parent company to DirecTV.