Sony Corp (NYSE:SNE) Slashes Viacom, Inc. (NASDAQ:VIAB) From PlayStation Vue


Sony Corp (NYSE:SNE) has announced that Viacom, Inc. (NASDAQ:VIAB) channels will no longer be available on the PlayStation Vue streaming service.

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The company will remove the Viacom channels from its list of channel offerings this Friday, meaning channels such as Comedy Central and MTV will no longer be available on PlayStation Vue. Sony did not reveal the reason behind the decision to remove the channels but the two companies are thought to have been going through a cost-related dispute. Unfortunately, such disputes mean customers end up getting less content.

“As part of our ongoing evaluation of the PlayStation Vue offering, we have determined that removing the bundle of channels from Viacom is the best way for us to continue to offer the most compelling value to our fans,” revealed Sony in a statement.

Sony launched the PlayStation Vue streaming service in 2015 exclusively for PlayStation consoles. The company launched it with cord cutting in mind as well as part of its plan to expand its PlayStation offerings. While Sony positioned itself as a cord cutter with the new service, it will certainly be discouraging for PlayStation Vue fans who love watching channels such as Nickelodeon, MTV, and Comedy Central. Sony is, however, trying to make the situation a bit better by bringing a few networks on board including NBA TV, Vice and BBC America.

“At PlayStation, we always strive to provide the best value and service for our fans,” announced Dwayne Benefield, the head of PlayStation Vue programs.

The executive further added that the decision to remove the channels was part of the company’s strategy to continue offering more value to its customers. Sony is also planning to bring more networks on board in the future including CBS and Fox. The move comes at a time when the firm is expected to face more competition as more players get into the market. Telecommunications giant AT&T Inc. (NYSE:T) is one of the firms planning to introduce their own streaming services.

Sony stock closed the latest trading session at $29.84.

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