Charter says Disney declined proposal, pulled video channels

In a presentation regarding the status of its distribution agreement with Disney (DIS), Charter (CHTR) said the following: “The multichannel video product is too expensive and packages don’t meet consumer needs; Customers are leaving the traditional video ecosystem and losses have accelerated; We still believe video is an important part of our connectivity offering, but the video product has been devalued and the ecosystem is broken; Disney – so far – has insisted on a traditional long-term deal with higher rates and limited packaging flexibility; Charter proposed a model that creates a better value for consumers and the industry; Disney declined our proposal and pulled its video channels from Charter’s video customers on August 31.”