TheStreet’s Conway Gittens brings you the biggest news of the day, including why some of your favorite channels might be disappearing from YouTube TV.
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00:00If you're a fan of any shows produced by Paramount Global,
00:03which includes content from Comedy Central, MTV, and CBS,
00:07there's a chance those channels will go dark if you access them through YouTube TV.
00:12The two companies are in a contract dispute,
00:14and YouTube is threatening to pull the plug this week.
00:18YouTube TV said in a statement, quote,
00:20We're still in active conversations with Paramount
00:23and are hopeful we can come to an agreement to keep their content available on YouTube TV.
00:29The company is telling customers they should subscribe to Paramount Plus
00:33for uninterrupted access to those Paramount shows.
00:36Paramount Plus, by the way, carries a $7.99 monthly fee.
00:40YouTube is offering an $8 credit if the blackout lasts for an extended time.
00:46For its part, Paramount posted an online message
00:49accusing YouTube TV of, quote,
00:51attempting to pressure Paramount to unfavorable and one-sided terms.
00:56It told customers it wants to keep the channels alive on the platform
01:00as part of a, quote,
01:02comprehensive deal.
01:03The two sides are at odds
01:05after YouTube TV raised the monthly price of its basic plan to $82.99,
01:11a hike of $10.
01:13This is not the first clash between YouTube and a major content company.
01:17Disney shows temporarily went dark in 2021
01:21after the two sides failed to reach a deal.
01:24YouTube appears to be flexing its muscles.
01:27With roughly 8 million paying subscribers,
01:30it is the biggest Internet-based pay TV service out there.
01:35Turning to markets now,
01:36investors got another whiff of too hot inflation.
01:39Producer prices saw a bigger-than-expected 0.4% jump in January.
01:44Prices were up 3.5% compared to a year ago.
01:47Stocks, however, are trading higher Thursday
01:49as investors adjust to the likely reality
01:52the Federal Reserve will keep interest rates higher for longer.
01:56That'll do it for your daily briefing from the New York Stock Exchange.
01:59I'm Conway Gittens with The Street.