As a seasoned movie buff with over three decades of binge-watching under my belt, this news about AMC Networks acquiring full control of BBC America has me positively giddy! I remember when “Killing Eve” and “Orphan Black” first graced our screens, and they’ve been staples in my TV diet ever since. Now, owning 100% of this iconic channel means even more of these masterpieces will be at my fingertips!
AMC Networks has acquired full control of BBC America, its joint venture with BBC Studios.
Since 2014, an American media company has held a 49.9% share in the channel, having bought it from BBC Worldwide for $200 million. In a recent deal, AMC Networks acquired the remaining 50.1% of BBC America for $42 million in cash, thus completing the transaction on November 1.
According to AMC Networks’ third-quarter financial report disclosed on Friday, the company now has complete ownership of BBC America, exercising full operational authority. They plan to continue consolidating BBC America entirely in their financial records.
Apart from “Mad Men,” “The Walking Dead,” and “Breaking Bad,” AMC Networks is also renowned for its past BBC America successes and critically acclaimed series, such as “Killing Eve,” “Orphan Black,” and “Doctor Who” (which transitioned to Disney+ in 2023).
According to AMC Networks, if the deal with BBC Studios had been finalized by September 30, which was the last day of their previous quarter, they would have significantly decreased their future programming commitments with BBC Studios. Additionally, approximately $132.9 million in redeemable non-controlling interest related to BBC America would not exist. Moving forward, AMC Networks will no longer make any cash distributions related to this entity to non-controlling interests.
AMC Networks CEO Kristin Dolan announced during the Q3 earnings call that they now completely own this renowned channel, giving them full control of its operations. They’re excited about what lies ahead, but they will also preserve a strong commercial alliance with BBC Studios to keep the brand and content at the highest quality. As before the transaction, they plan to fully integrate BBC America into their existing structure.
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2024-11-08 18:46