WHY THIS MATTERS:The decline in pay-TV homes has been closely watched because of concerns that cord cutting and cord shaving are cutting into the distribution revenue generated by programmers.
Analyst Todd Juenger of Sanford C. Bernstein didn't like what he saw while watching TV over the holidays. What he saw were cable networks belonging to Viacom, AMC Networks and Discovery Communications whose shows were so overstuffed with ads that they couldn't be contained in either 30-minute or 60-minute intervals.