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Verizon elected to drop Bloomberg's news channel from its TV service after the media company asked for a carriage fee for the first time.

Reuters reports that Verizon declined to pay a fee to host Bloomberg content, which it noted is available for free on Bloomberg's website and mobile app.

As cable and satellite companies continue to lose business to cord-cutting, many are increasingly hesitant to pay for content already hosted online.

Reuters added that Verizon directed its 4.6 million Fios pay TV subscribers to Bloomberg properties to view the network. It remained unclear whether the two sides could still reach an agreement to resolve the spat.

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