AMC Networks today reported financial results for the third quarter and announced the renewal of several affiliate agreements, including an early renewal with Charter which includes the ad-supported version of AMC+ being bundled to Charter video customers at no additional cost to the customer.
The company also announced a continued momentum in FAST with the launch of 15 AMC Networks’ FAST channels on Amazon platforms, as well as the acquisition of the remaining 50.1 percent of BBC Americas from BBC Studios. The purchase was valued at $42 million.
“We now own 100 percent of the iconic channel with full operational control, and look forward to what the future holds,” said Patrick O’Connell, executive vice president and CFO of AMC Networks.
Despite a 31 percent increase of content licensing revenues to $81 million, company’s revenue dropped 6 percent in the third quarter compared with the year-earlier period, coming in at $599.6 million.
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