Viacom Could Lose Half Its Value from Dispute with Dish

Barron’s: Bernstein’s Todd Juenger and team argue that Viacom could lose more than half its value and be forced to suspend its dividend if it can’t reach an agreement with Dish Network: “Viacom would be forced to make painful cost cuts, but would still suffer an EBITDA decline of -15%. Perhaps most importantly, we believe Dish has arrived at this same conclusion, and will use this leverage to their strong advantage.”