I dismissed it because it doesn't support the argument that DIRECTV is fighting particularly hard to combat escalating costs. Rather, it is a textbook example of one company trying to railroad another into a contract before all the details are ironed out.
DIRECTV claimed that they thought that they had come to an agreement (and issued a press release stating as much) when they hadn't. If they had negotiated in good faith, it probably would have been resolved quicker.
It was stated clearly that the reason the deal got rebuked, after the press release, was due to the creditors declining the offer after the companies had come to a tentative agreement. Then days later the creditors chose to accept the offer.
Perhaps you missed the press release DIRECTV put out in public:
EL SEGUNDO, Calif., Apr 04, 2012 (BUSINESS WIRE) -- DIRECTV and Tribune have reached a retransmission consent deal for DIRECTV to continue carrying all of Tribune’s local stations and WGN America for the next five years. Terms of the deal were not disclosed.
“We’re pleased that Tribune and their creditors now recognize that all DIRECTV wanted from day one was to pay fair market rates for their channels,” said Derek Chang, executive vice president of Content, Strategy and Development, DIRECTV. “It’s unfortunate that Tribune was willing to hold our customers hostage in an attempt to extract excessive rates, but in the end we reached a fair deal at market rates similar to what we originally agreed to on March 29. On behalf of our customers, we are very happy to close the deal and put this behind us.”
Tribune restored all of their local signals and WGN America to DIRECTV customers at approximately 9 p.m. ET.
Five million American homes blacked out from their local broadcaster cries out for an examination in Washington, D.C of the decades old telecom law that encourages these impasses.
DIRECTV DTV -1.47% is one of the world’s leading providers of digital television entertainment services delivering a premium video experience through state-of-the-art technology, unmatched programming and industry leading customer service to 32 million customers in the U.S. and Latin America. In the U.S., DIRECTV offers its 19.9 million customers access to more than 170 HD channels and Dolby-Digital® 5.1 theater-quality sound, access to exclusive sports programming such as NFL SUNDAY TICKET™, Emmy-award winning technology and higher customer satisfaction than the leading cable companies for 11 years running. DIRECTV Latin America, through its subsidiaries and affiliated companies in Brazil, Mexico, Argentina, Venezuela, Colombia, and other Latin American countries, leads the pay-TV category in technology, programming and service, delivering an unrivaled digital television experience to 12 million customers. DIRECTV sports and entertainment properties include three Regional Sports Networks (Northwest, Rocky Mountain and Pittsburgh) as well as a 60 percent interest in Game Show Network. For the most up-to-date information on DIRECTV, please visit www.directv.com .