AMC Networks

AMC Networks Inc. is an American entertainment company headquartered in 11 Penn Plaza, New York, that owns and operates the cable channels AMC (its eponymous brand), IFC, We TV, BBC America (through a joint venture with BBC Studios), and SundanceTV; the art house movie theater IFC Center in New York City; the independent film companies IFC Films and RLJE Films; and premium streaming services Sundance Now and Shudder. In addition, the company operates AMC Networks International, its global division.

This article is about the cable television channel operator. For the American movie theater chain of the same name, see AMC Theatres.

AMC Networks Inc.
Formerly
Rainbow Media Holdings (1980–2011)
Public
Traded as
ISINUS00164V1035 
Industry
Founded1980 (1980)
Headquarters
New York, New York
,
United States
Key people
Brands
Revenue US$2.971 billion (2018)[1]
US$726 million (2018)[1]
US$446 million (2018)[1]
OwnerDolan family (67% voting power)[2]
Number of employees
2,197 (Feb 2014)[1]
DivisionsAMC Networks International
SubsidiariesIFC Films
RLJE Films
Websitewww.amcnetworks.com

The company was originally launched in 1980 and formerly known as Rainbow Media Holdings, LLC (or alternately Rainbow Programming Holdings), a subsidiary of Cablevision, but was spun off as a publicly traded company in July 2011. The company is majority-owned and controlled by the Dolan family.[2]

History

Rainbow Media

When Rainbow was formed in 1980, it originally included Bravo and SportsChannel New York. As SportsChannel expanded by adding other regional networks, these also became part of Rainbow (see SportsChannel America). When SportsChannel was merged into Fox Sports Net, all of these networks except SportsChannel NY (then Fox Sports New York) were gradually sold off. Fox Sports New York was then transferred to the MSG Media division and rebranded MSG+.[3]

Rainbow originally started the Playboy Channel in 1982 as a joint-venture with Playboy;[4] Cablevision would later sell its share back to Playboy.

1983 saw the acquisition of Philadelphia's regional sports and movie network PRISM and sibling PRISM New England, as a joint-venture with The Washington Post Company, with CBS acquiring a stake in 1985. While PRISM New England was rebranded as SportsChannel New England upon the acquisition, the original PRISM retained its identity and format (and eventually gained a sister network in SportsChannel Philadelphia). Rainbow assumed full control of PRISM in 1987, and continued to operate it and SportsChannel Philadelphia until 1997, when both channels were shut down to make way for the first Comcast SportsNet.

In 1988, Cablevision merged their cable networks with NBC, giving NBC 50% ownership in Rainbow.[5] Through a series of transactions, NBC's stake was eventually reduced. In 2002, Cablevision sold its share of Bravo to NBC and as part of the deal, NBC gave up its then 20% share in Rainbow.

1994 saw the launch of an American feed of the Canadian music channel MuchMusic, MuchMusic USA, in partnership with CHUM Limited. CHUM sold their stake to Rainbow in 2000 and revoked their license for the MuchMusic name, which culminated into a rebrand as Fuse in 2003. Fuse became a part of MSG Media in 2010, and has since been spun off as Fuse Media.

The company also founded Orlando, Florida station WRBW in 1994, which it eventually sold to Chris-Craft in 1998; it was affiliated with the since-defunct UPN, which Chris-Craft owned half of at the time. Chris-Craft later sold its stations, including WRBW, to Fox Television Stations, who currently operates WRBW as a MyNetworkTV station.

Rainbow ran the local-minded MSG Metro Channels which launched in 1998, before folding them in late 2005.

2003 saw Rainbow DBS Company launch a DBS satellite service, the HDTV-oriented Voom. The service ceased operations on April 30, 2005, and instead several of Voom's HD channels were launched on Dish Network and Cablevision, now bannered as Voom HD Networks. The networks were discontinued in 2009.

In 2005, Cablevision considered spinning off its content subsidiary Rainbow Media as a publicly traded company, and making their core cable business private, but withdrew the plan. In 2006, a new plan emerged to privatize all of Cablevision, including Rainbow Media. In January 2007, with no word on if the privatization would go through, Liberty Media expressed interest in acquiring Rainbow Media from Cablevision.[6]

Rainbow Media also owned Wedding Central which was shut down the same day AMC Networks went public.[7]

AMC Networks

On March 10, 2011, Cablevision, as approved by its board on December 16, 2010, announced that Rainbow Media would be spun off as a publicly traded company, AMC Networks, later in 2011, and, as said in 2005, making their core cable business private. Rainbow Media's former President Josh Sapan serves as the president and chief executive of AMC Networks[8] which went public on July 1, 2011.[9]

On May 4, 2012, Dish Network announced that it would no longer carry the AMC Networks family of cable channels upon the expiration of the satellite provider's distribution agreement with the company at the end of June 2012, citing that AMC Networks charged an excessive amount in retransmission consent payments from the service for their carriage and low audience viewership for the channels.[10]

AMC Networks responded to Dish Network's announcement of its pending removal of the channels as being related to a 2008 breach of contract lawsuit against Dish Network by the company's former Voom HD Networks subsidiary (under the company's previous Rainbow Media Holdings brand) (which is pending trial in the New York State Supreme Court), in which it is seeking more than $2.5 billion in damages against Dish Network for improperly terminating its carriage contract; Voom's high-definition channels were carried on the provider from May 1, 2005 until May 12, 2008 when Dish removed ten of Voom's fifteen channels from its lineup and the five remaining channels the following day. Dish Network stated that the lawsuit is unrelated to the decision to remove the AMC Networks channels and that it ended the carriage agreement on its own terms.[10]

On May 20, 2012, Dish Network removed Sundance Channel from its channel lineup. Two weeks later on June 4, 2012, Dish relocated AMC, WEtv, and IFC to higher channel positions with AMC being split into two separate standard definition and high definition channel feeds (AMC moved from channel 130 to channel 9609 for the SD feed and 9610 for the HD feed, WEtv moved from channel 128 to channel 9608 and IFC was moved from channel 393 to channel 9607); the former channel lineup spaces occupied by the three channels were respectively replaced with HDNet, Style and MoviePlex multiplex channel Indieplex. The move is believed to be in response to an ad run during a June 3 airing of an episode of Mad Men urging Dish Network customers to inform the company to keep the three AMC Networks channels on the satellite provider, with Dish Network stating that the relocated channel positions better reflect the channels' ratings.[11]

On July 1, 2012, Dish Network dropped AMC, WEtv, and IFC from the channel line-up altogether.

On July 12, 2012, AMC said in an e-mailed statement that it would stream over the Internet the season premiere of Breaking Bad to Dish customers.[12] "Dish subscribers can register online starting July 13 for the show, which airs on July 15. We want to give Dish customers an extra week to switch providers so they can enjoy the rest of the season."[13]

On October 21, 2012, AMC Networks announced a settlement was reached between them, Cablevision and Dish in which Dish was forced to pay up to $700 million in damages to Cablevision for damages from removing Voom owned channels off the Dish lineup back in 2008, and in return Dish signed a new agreement to bring the AMC Networks owned channels back on the Dish lineup with AMC returning October 21 and the rest on November 1.[14][15]

From 2013 to 2015, the company acquired or joined a joint venture each year. On October 28, 2013, AMC Networks announced it would acquire most of Chellomedia, sans Chello Benelux, an international operator of cable networks, from Liberty Global for around $1.04 billion.[16] On October 23, 2014, AMC confirmed it had purchased a 49.9% stake in BBC America, with BBC Studios retaining the remaining share of the network.[17] In 2015, AMC Networks, along with Upfront Ventures, Daher Capital, Northgate Ventures, invested a round of funding in the Latin YouTube network MiTú.[18][19]

In 2016, AMC Networks finalized a partnership agreement with former BET founder Robert L. Johnson's RLJ Company. According to the agreement, AMC will use its programming and distribution clout to benefit Acorn and UMC. Additionally, the RLJ-AMC partnership will allow for greater investment in content from African-American creatives, Johnson emphasized. The agreement called for AMC to provide RLJ with a $60 million loan on a seven-year term and $5 million on a one-year term. AMC has received warrants to purchase at least 20 million shares or the equivalent of 50.1% of the company. The time frame for exercising those warrants is open-ended, AMC said.[20]

On November 15, 2016, AMC acquired a minority stake in comedy video website and film and television production company Funny or Die, with plans to integrate it with IFC.[21]

On April 27, 2018, the company, as the owner of IFC, acquired a majority stake in comedy venue operator Levity Live.[22]

On July 30, 2018, AMC Networks reached a definitive agreement to acquire RLJ Entertainment where AMC would pay $59 million for the remaining RLJE shares not owned by AMC or Robert L. Johnson.[23] The transaction was approved by RLJ Entertainment's stockholders on October 31, and AMC Networks completed the acquisition on November 1.[24] RLJ Entertainment became a privately owned subsidiary of AMC Networks, with Johnson and his affiliates owning a 17% stake.

In 2019, AMC Networks and the New Zealand public broadcaster TVNZ entered into an agreement to jointly produce The Dead Lands, a Māori–theme supernatural series set in pre-contact New Zealand. The series was distributed by AMC's streaming service Shudder in the US, Canada, UK, and Ireland and by TVNZ On Demand in New Zealand.[25][26]

Business model

As of 2020, the company was reliant upon the scripted television shows which it produces and owns including Mad Men, Breaking Bad, The Walking Dead, and Better Call Saul. [27]

Units

Main channels

Premium streaming services

Investments

AMC Networks International
Main article: AMC Networks International

On October 28, 2013, AMC Networks announced it would acquire most of Chellomedia, an international operator of cable networks, from Liberty Global for around $1.04 billion. The acquisition did not include Chello Benelux, owners of Film1 and Sport1.[16] On February 2, 2014, the transaction was completed.[29] What was formerly Chellomedia is now known as AMC Networks International and will allow AMC Networks to distribute its programming worldwide.[30]

BBC America joint venture
Main article: BBC America

On October 23, 2014, AMC confirmed it had purchased a 49.9% stake in BBC America, with BBC Studios retaining the remaining share of the network.[17] The joint venture will also give AMC, which itself distributes the BBC World News channel in the United States, operational control in BBC America, which will be managed as a stand-alone from AMC's other channels.[31][32][33]

gollark: That is an impressively small Mandelbrot or something.
gollark: If only I had installed the /dev/pi kernel module to test on!
gollark: Satirical licenses?
gollark: "Using such information might lead to heated discussions, thereby increasing global warming."
gollark: RFC 8369 unironically has some good ideas.

See also

References
  1. "AMC 2018 earnigs". February 28, 2019. Retrieved March 25, 2019.
  2. Lieberman, David (August 15, 2012). "AMC Networks Reports Big Stock Sale By Charles Dolan". deadline.com. Retrieved September 22, 2018.
  3. "exv99w1". www.sec.gov. Retrieved February 7, 2019.
  4. Sandra Salmans (March 15, 1983). "PLAYBOY'S HOPES IN CABLE TV". The New York Times. ISSN 0362-4331. Retrieved October 12, 2017.
  5. Fabrikant, Geraldine (December 23, 1988). "The Media Business; NBC and Cablevision Plan Joint Programming Venture". The New York Times.
  6. "CORRECTED - Cablevision shares rise on speculation of unit sale". Reuters. January 18, 2007. Retrieved February 7, 2019.
  7. Umstead, Thomas (July 8, 2011). "AMC Networks Divorces Wedding Central". Multichannel News. Archived from the original on October 30, 2013. Retrieved October 24, 2014.
  8. James, Meg (March 10, 2011). "Cablevision moves forward with spinoff of AMC Networks". Los Angeles Times. Retrieved October 24, 2014.
  9. Lieberman, David (June 30, 2011). "AMC Networks Goes Public With Hot Shows, And Analysts Looking for a Sale". Deadline Hollywood. Retrieved October 24, 2014.
  10. Baker, Liana B.; Adegoke, Yinka (May 4, 2012). "Corrected: DISH subscribers could lose 'Mad Men' in dispute". Reuters. Retrieved May 4, 2012.
  11. Lieberman, David (June 4, 2012). "Dish Network Kicks AMC Networks Channels To Nosebleed Section of the Dial". Deadline Hollywood. Retrieved October 24, 2014.
  12. Blessing, Kelly (July 12, 2012). "AMC to Stream 'Breaking Bad' Premiere to Dish Customers". Bloomberg Businessweek. Retrieved July 16, 2012.
  13. de Moraes, Lisa (July 12, 2012). "AMC vs. Dish, Viacom vs. DirecTV: Brawling satellite providers and cable companies take different tactics". The Washington Post. Retrieved July 16, 2012.
  14. "Cablevision and AMC Networks Announce Settlement in VOOM HD Litigation With DISH Network". AMC Networks. October 21, 2012. Retrieved October 28, 2013.
  15. "DISH Network and Voom Reach Settlement". Dish Network. October 21, 2012. Retrieved October 28, 2013.
  16. Chatterjee, Soham (October 28, 2013). "AMC to buy most of Liberty Global's international content unit". Reuters. Retrieved October 28, 2013.
  17. "AMC Networks and BBC Worldwide Enter Partnership". BBC America. October 23, 2014. Archived from the original on October 27, 2014. Retrieved October 24, 2014.
  18. Jarvey, Natalie (February 4, 2015). "AMC Invests in Latino YouTube Network MiTu". The Hollywood Reporter. Retrieved February 4, 2015.
  19. Banks, Alicia (February 4, 2015). "Latino YouTube Network MiTu Closes $15 Million in Financing, Hires Demand Media Execs". The Wrap. Retrieved February 4, 2015.
  20. "AMC Networks Invests in Robert Johnson's Streaming TV and Film Company". Variety. Retrieved February 9, 2018.
  21. "AMC Networks Takes Minority Stake in Funny or Die, Plans Integrations With IFC". Variety.
  22. "AMC Networks Buys Majority Stake in Comedy Venue Operator Levity Live". The Hollywood Reporter.
  23. "AMC Networks Inc. To Acquire RLJ Entertainment, Inc". AMC Networks. July 30, 2018. Retrieved November 8, 2018.
  24. "AMC Networks Inc. Completes Acquisition Of RLJ Entertainment, Inc". AMC Networks. November 1, 2018. Retrieved November 8, 2018.
  25. Collis, Clark (December 5, 2019). "The newly deceased hunt the living in trailer for Shudder TV's The Dead Lands". Entertainment Weekly. Archived from the original on March 2, 2020. Retrieved December 31, 2019.
  26. Webb-Liddall, Alice (January 24, 2020). "How The Dead Lands hopes to change New Zealand television". The Spinoff. Archived from the original on January 24, 2020. Retrieved April 4, 2020.
  27. "AMC Growth Could Be Stunted by Weak Ad Demand, Lowering Fair Value Estimate to $52". analysisreport.morningstar.com. Retrieved April 11, 2020.
  28. "AMC NETWORKS' STREAMING SERVICE ACORN TV SURPASSES MAJOR MILESTONE – ONE MILLION SUBSCRIBERS". www.amcnetworks.com. Retrieved July 29, 2020.
  29. The Deadline Team (February 2, 2014). "AMC Networks Completes Acquisition of Liberty Global's Chellomedia". Deadline Hollywood. Retrieved October 24, 2014.
  30. Molloy, Tim (February 3, 2014). "AMC Networks Completes Chellomedia Purchase for $1 Billion". The Wrap. Retrieved December 9, 2014.
  31. Lieberman, David (October 23, 2014). "AMC Networks Pays $200M For 49.9% Of BBC America". Deadline Hollywood. Retrieved October 24, 2014.
  32. Steinberg, Brian (October 23, 2014). "AMC Networks To Operate BBC America After $200M Investment". Variety. Retrieved October 24, 2014.
  33. Szalai, Georg (October 23, 2014). "AMC Networks, BBC America Deal Is About Premium Content, Executives Say". The Hollywood Reporter. Retrieved October 24, 2014.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.