Considering DirecTV isn't the one doing the yanking, Viacom is, I don't see how they would look bad to advertisers. If anything Viacom would look bad to advertisers. The advertisers pay Viacom, not DirecTV.
They actually BOTH make money on advertising... D*gets all the local availability slots.
However, V stands to lose much more in advertising dollars than D.
D* is the good guy in this fight, from a customer's point of view, as they are trying to keep the cost of programming lower, which helps keep the rates we pay lower. Sure, they may still raise our rates, but they would have to raise them even more if all the content providers raise their cost of doing business.