Welcome to our dedicated page for AMC Networks news (Ticker: AMCX), a resource for investors and traders seeking the latest updates and insights on AMC Networks stock.
AMC Networks Inc. (NASDAQ: AMCX) is a renowned global entertainment company with over 30 years of experience producing quality programming and movie content. The company owns and operates several prominent and award-winning brands in cable television including AMC, IFC, SundanceTV, WE tv, and IFC Films. These brands deliver distinctive, compelling, and culturally relevant content that captivates audiences across a multitude of platforms. AMC Networks also operates AMC Networks International, its global division.
As of December 2023, AMC Networks reached nearly 65 million pay-TV households in the US with its most widely distributed network, AMC. The company's streaming subscribers also grew to nearly 11.5 million, with AMC+ as the flagship platform. AMC Networks focuses on original scripted programming through AMC Studios and earns revenue from licensing content.
The company has adapted to industry changes, recently introducing an ad-supported version of AMC+ and pioneering programmatic ad buying on its linear networks. AMC Networks continues to secure partnerships, including a pop-up on Max and presence on Xumo. The firm has maintained strong financial health, reporting year-over-year increases in free cash flow and streaming revenue, despite some declines in net revenues and operating income.
The company has announced exciting new content such as 'The Walking Dead: Daryl Dixon' and 'The Walking Dead: The Ones Who Live', which are set to premiere soon. AMC Networks also engages in strategic partnerships with major distributors and enhances its streaming offerings through innovative packaging and expanded distribution channels. These efforts ensure AMC Networks remains a profitable and influential player in the entertainment industry.
AMC Networks (NASDAQ: AMCX) announced that its Executive Vice President and CFO, Patrick O’Connell, will participate in the J.P. Morgan 2023 Global High Yield and Leveraged Finance Conference on March 7, 2023, at 3:30 P.M. Eastern Time. A live webcast can be accessed on the company's website under the 'Investors' section, with a replay available post-event. AMC Networks is recognized for its acclaimed content and operates various streaming services including AMC+, Acorn TV, and Shudder, among others. The company also produces popular shows like The Walking Dead and has a significant international business.
AMC Networks has announced a cash tender offer to purchase up to $800 million of its outstanding 5.00% Senior Notes due 2024 and 4.75% Senior Notes due 2025. This offer is detailed in an Offer to Purchase dated February 17, 2023. The company plans to fund these purchases through borrowings from a new senior secured term loan and/or existing cash. The offers will expire on March 20, 2023, with an early tender deadline on March 3, 2023. Holders who tender their notes by the early date will receive a premium alongside the principal amount.
AMC Networks reported Q4 and full-year 2022 financial results, highlighting a 20% revenue increase to $965 million in Q4 and a 1% rise to $3.1 billion for the year. While operating loss surged to $392 million, adjusted operating income grew 34% to $137 million. The company saw a significant 35% increase in streaming revenues, totaling $502 million, with 11.8 million subscribers. Notably, the successful launch of the Anne Rice Universe franchise contributed to increased viewer engagement. The board authorized a $1.5 billion stock repurchase program, although the net loss per share reached $(6.11) for Q4.
AMC Networks (NASDAQ: AMCX) has appointed Kristin Dolan as its new CEO, effective February 27, 2023. With over 30 years in media, Dolan is a seasoned leader, having founded audience measurement firm 605 and previously serving as COO at Cablevision. Her experience includes overseeing significant cable operations and advertising strategy. Interim Executive Chairman James L. Dolan praised her operational leadership and expertise in subscription-based businesses, which are essential for the company's transformation. Dolan aims to leverage AMC’s assets to enhance growth and shareholder value.
AMC Networks (NASDAQ: AMCX) has rescheduled its conference call to discuss Q4 and full-year results for 2022, now set for February 17, 2023, at 11:00 a.m. ET, changing from the original time of 8:30 a.m. ET. A press release detailing the results will be available before the market opens.
The call will be available via a live webcast on the company’s website, and participants must pre-register to access the call by obtaining a dial-in number and passcode. Recordings will be accessible on the website approximately two hours post-call.
AMC Networks (NASDAQ: AMCX) will host a conference call on February 17, 2023 at 8:30 a.m. ET to discuss its fourth quarter and full year 2022 results. A press release will be issued before the market opens. The call will be available for live streaming on the company’s website at investors.amcnetworks.com.
Participants must pre-register to receive the dial-in information and passcode. Playback options will be available approximately two hours after the call ends. AMC Networks is known for its popular content across various streaming services and channels.
AMC Networks (Nasdaq: AMCX) announced the appointment of James L. Dolan as Interim Executive Chairman following the exit of former CEO Christina Spade. Dolan's role is effective immediately, allowing him to provide strategic oversight until a new CEO is selected. He emphasized the strength of the executive leadership team during this transformative period in the media industry. Dolan’s interim term will last until a new appointment is made or until March 6, 2023.
AMC Networks (NASDAQ: AMCX) announced that its CEO, Christina Spade, has stepped down. The Board of Directors is currently finalizing her replacement, with an announcement expected soon. Chairman James Dolan expressed gratitude for Spade's contributions as both CEO and former CFO. AMC Networks is recognized for its diverse entertainment brands, including AMC+, Acorn TV, Shudder, and several others, along with notable productions like The Walking Dead and the Anne Rice catalog.
AMC Networks reported its Q3 2022 financial results, showcasing a 44% increase in paid streaming subscribers, reaching 11.1 million, alongside a 41% surge in streaming revenue. However, net revenues declined 16% to $682 million due to reduced content licensing and advertising revenues. Operating income fell 20% to $151 million, with diluted EPS at $1.94, reflecting a 23.9% decrease year-over-year. The company maintained a focus on transforming into a consumer-focused premium content provider, backed by strong digital distribution growth, notably through its partnership with Roku.
Brand Velocity Group (BVG) has launched a sports-focused vertical named Brand Velocity Group Sports (BVGS), led by sports pioneer Joseph Cohen as chairman. BVGS aims to invest in sports-adjacent companies and potentially professional sports teams, enhancing growth and financial flexibility for stakeholders. The BVGS team features experienced partners including Drew Sheinman and Eli Manning, along with a diverse advisory group with significant industry influence. BVGS will leverage BVG’s operational expertise and the Share the Gains initiative, which allocates 10% of carried interest earnings to employees, fostering a culture of shared success.
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