AMC Networks Acquires Full Control of BBC America for $42 Million

AMC Networks has acquired full control in BBC America. The U.S. media company has owned a 49.1% stake in the BBC Studios company since 2014, which it purchased for $200 million. With this new deal, AMC Networks gains the remaining stake.

Per AMC Networks’ Q3 earnings release, “On November 1, 2024, the Company closed a transaction with BBC Studios in which the Company acquired the remaining 50.1% of the BBC America joint-venture that it had not previously owned for $42.0 million in cash. The Company now owns 100% of the BBC America business, with full operational control, and will continue to fully consolidate BBC America. Assuming the transaction had closed on September 30, 2024, $132.9 million of redeemable noncontrolling interest related to BBC America, and reflected on the condensed consolidated balance sheet, would have been eliminated. Additionally, the Company’s future contractual programming commitments to BBC Studios would have been significantly reduced. Going forward, AMC Networks will no longer be making any related cash distributions to non-controlling interests.”

More to come…