UP!

AMCX $20.77   View long term graphs

AMC Networks Inc.
Formerly called
Rainbow Media Group (1980-2011)
Type
Public
Traded as
  • Class A Common Stock: NASDAQ: AMCX
  • Class B Common Stock: unlisted
  • S&P 400 Component (AMCX)
Industry
  • Specialty television
  • Independent film distribution
  • Movie theater management
Founded 1980 (1980)
Headquarters
  • New York City, United States
Key people
  • Charles Dolan
  • (Executive Chairman)
  • Josh Sapan
  • (President, CEO)
Revenue Increase US$2.58 billion (2015)
Operating income
Increase US$582.2 million (2013)
Net income
Increase US$290.2 million (2013)
Total assets Increase US$2.6 billion (2013)
Total equity Increase US$571.5 million (2013)
Owner Dolan family (67% voting stake)
Number of employees
2,197 (Feb 2014)
Divisions AMC
IFC
WE tv
SundanceTV
IFC Center
IFC Films
Subsidiaries BBC America (49.9%)
AMC Networks International
Website www.amcnetworks.com

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

The company was originally launched in 1980 and formerly known as Rainbow Media Holdings, LLC, 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.

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 and rebranded MSG+.

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

In 1988, Cablevision merged their cable networks with NBC, giving NBC 50% ownership in Rainbow. 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.

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

The company had 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.

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.

Rainbow Media also formerly owned the music channel Fuse; the channel became a part of MSG Media in 2010, as Madison Square Garden was also spun off as a public company. Rainbow Media also owned Wedding Central which was shut down the same day AMC Networks went public.

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 which went public on July 1, 2011.

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.

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.

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.

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. "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."

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.

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. On October 23, 2014, AMC confirmed it had purchased a 49.9% stake in BBC America, with BBC Worldwide retaining the remaining share of the network. In 2015, AMC Networks, along with Upfront Ventures, Daher Capital, Northgate Ventures, invested a round of funding in the Latin YouTube network MiTú.

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. On February 2, 2014, the transaction was completed. What was formerly Chellomedia will now be known as AMC International and will allow AMC Networks to distribute its programming worldwide.

BBC America (49.9% stake) joint venture

On October 23, 2014, AMC confirmed it had purchased a 49.9% stake in BBC America, with BBC Worldwide retaining the remaining share of the network. The joint venture will also give AMC operational control in BBC America, which will be managed as a stand-alone from AMC's other channels.

News

AMC Networks Inc. -7.69% (communication services)

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2020 2021-02-24 Future report Set alerts
Q3 2020 2020-10-29 Future report Set alerts
Q2 2020 2020-08-04 2.39 0.28
Q1 2020 2020-05-05 1.47 1.22
Q4 2019 2020-02-26 1.69 -0.15
Q3 2019 2019-10-31 2.33 2.07
Q2 2019 2019-07-31 2.60 2.25
Q1 2019 2019-05-01 2.64 2.48
Q4 2018 2019-02-28 1.92 1.24
Q3 2018 2018-11-01 2.15 1.93

Ratings

2016-07-12 Reiterated Rating Albert Fried & Company Buy
2016-07-11 Lower Price Target Jefferies Group Hold $72.00 to $67.00
2016-06-22 Reiterated Rating Albert Fried & Company Buy $97.00
2016-06-22 Downgrade Morgan Stanley Overweight to Equal Weight $78.00 to $65.00
2016-06-17 Reiterated Rating Sanford C. Bernstein Market Perform
2016-05-22 Reiterated Rating Pacific Crest Buy
2016-05-19 Reiterated Rating JPMorgan Chase & Co. Neutral
2016-04-26 Upgrade Macquarie Neutral to Outperform $82.00
2016-04-12 Boost Price Target Moffett Nathanson $77.00
2016-04-05 Initiated Coverage Jefferies Group Hold $72.00
2016-03-30 Lower Price Target Topeka Capital Markets Hold $71.00 to $69.00
2016-03-29 Boost Price Target Macquarie Neutral $83.00 to $85.00
2016-03-16 Reiterated Rating Albert Fried & Company Overweight $97.00
2016-03-02 Lower Price Target Cowen and Company Market Perform $72.00 to $69.00
2016-02-22 Lower Price Target Topeka Capital Markets Hold $79.00 to $71.00
2016-02-22 Reiterated Rating Stifel Nicolaus Buy
2016-02-21 Reiterated Rating Albert Fried & Company Buy $97.00
2016-01-07 Reiterated Rating Piper Jaffray Overweight $90.00
2016-01-07 Reiterated Rating Piper Jaffray Cos. Overweight $90.00
2016-01-05 Reiterated Rating Pacific Crest Overweight
2015-12-03 Boost Price Target Macquarie Neutral $79.00 to $83.00
2015-11-25 Reiterated Rating Albert Fried & Company Overweight $97.00
2015-11-18 Boost Price Target Sanford C. Bernstein $74.00 to $80.00
2015-11-17 Reiterated Rating Pacific Crest Overweight $85.00
2015-11-12 Boost Price Target Topeka Capital Markets Hold $78.00 to $79.00
2015-11-11 Reiterated Rating Albert Fried & Company Overweight $97.00
2015-11-06 Boost Price Target Pacific Crest Overweight $83.00 to $85.00
2015-10-28 Lower Price Target Sanford C. Bernstein Market-Perform $74.00
2015-10-20 Initiated Coverage Cowen and Company Market Perform $72.00
2015-10-16 Boost Price Target Moffett Nathanson $78.00
2015-09-24 Upgrade Evercore ISI Hold to Buy $75.00 to $90.00
2015-09-03 Lower Price Target Topeka Capital Markets Hold $80.00 to $78.00
2015-08-26 Reiterated Rating Albert Fried & Company Buy $97.00
2015-08-21 Reiterated Rating Piper Jaffray Overweight $90.00
2015-08-20 Lower Price Target Sanford C. Bernstein Market Perform $87.00 to $82.00
2015-08-18 Reiterated Rating Pacific Crest Overweight
2015-08-10 Reiterated Rating JPMorgan Chase & Co. Hold $81.00
2015-08-07 Reiterated Rating Albert Fried & Company Overweight $97.00
2015-08-07 Reiterated Rating Stifel Nicolaus Buy $89.00
2015-08-07 Reiterated Rating Pacific Crest Overweight $88.00 to $83.00
2015-08-06 Reiterated Rating Topeka Capital Markets Hold $85.00 to $80.00
2015-08-03 Upgrade Morgan Stanley Equal Weight to Overweight $78.00 to $94.00
2015-07-03 Reiterated Rating Piper Jaffray Overweight $90.00
2015-07-01 Boost Price Target Nomura Buy $90.00 to $92.00
2015-07-01 Boost Price Target Nomura Holdings Inc. Buy $90.00 to $92.00
2015-06-23 Downgrade Topeka Capital Markets Buy to Hold $85.00
2015-06-16 Boost Price Target Maxim Group Buy $80.00 to $90.00
2015-05-23 Reiterated Rating Stifel Nicolaus Buy $89.00
2015-05-09 Reiterated Rating Nomura Buy $85.00 to $90.00
2015-05-09 Reiterated Rating CLSA Outperform $87.00 to $89.00
2015-05-09 Reiterated Rating Credit Agricole Outperform $87.00 to $89.00
2015-05-09 Reiterated Rating Credit Agricole SA Outperform $87.00 to $89.00
2015-05-05 Set Price Target Pacific Crest Buy $82.00 to $88.00
2015-05-05 Set Price Target Topeka Capital Markets Buy $83.00 to $85.00
2015-05-05 Boost Price Target Stifel Nicolaus Buy $82.00 to $89.00
2015-04-28 Initiated Coverage Credit Agricole Outperform $87.00
2015-04-28 Initiated Coverage CLSA Outperform $87.00
2015-04-13 Initiated Coverage Piper Jaffray Overweight $90.00
2015-04-01 Reiterated Rating Evercore Partners Inc. Buy to Hold $71.00 to $80.00
2015-04-01 Downgrade Evercore ISI Buy to Hold $71.00 to $80.00
2015-02-27 Boost Price Target Pacific Crest Outperform $75.00 to $82.00
2015-02-26 Lower Price Target Topeka Capital Markets Buy $85.00 to $83.00
2015-02-24 Downgrade Macquarie Outperform to Neutral
2015-02-20 Set Price Target Albert Fried & Company Buy $97.00
2015-01-23 Boost Price Target JPMorgan Chase & Co. Neutral $66.00 to $72.00
2015-01-22 Upgrade Nomura Neutral to Buy $70.00 to $80.00
2015-01-06 Boost Price Target Guggenheim $71.00 to $75.00
2014-12-22 Initiated Coverage Pacific Crest Outperform
2014-11-07 Reiterated Rating JPMorgan Chase & Co. Neutral $62.00 to $66.00
2014-10-29 Upgrade Evercore ISI Hold to Buy $64.00 to $71.00
2014-08-20 Reiterated Rating Stifel Nicolaus Positive
2014-08-08 Lower Price Target Maxim Group Buy $90.00 to $80.00
2014-06-04 Downgrade Moffett Nathanson Buy to Neutral $72.00 to $67.00
2014-06-04 Downgrade Hanson Buy to Neutral $72.00 to $67.00
2014-05-16 Reiterated Rating Sterne Agee CRT Buy $83.00 to $70.00
2014-05-13 Lower Price Target National Alliance Securities Buy $91.42 to $76.70
2014-05-09 Reiterated Rating JPMorgan Chase & Co. Neutral $77.00 to $72.00
2014-05-09 Reiterated Rating Morgan Stanley Equal Weight $78.00
2014-05-09 Lower Price Target Macquarie $83.00 to $80.00
2014-05-09 Lower Price Target Guggenheim $85.00 to $70.00
2014-05-08 Downgrade Evercore ISI Buy to Neutral $81.00 to $75.00
2014-04-03 Upgrade Albert Fried & Company Market Perform to Overweight $97.00
2014-03-18 Boost Price Target Maxim Group Buy $84.00 to $90.00
2014-03-12 Boost Price Target Sanford C. Bernstein Outperform $81.00 to $93.00
2014-02-28 Upgrade National Alliance Securities Buy
2014-02-04 Initiated Coverage Topeka Capital Markets Buy
2014-01-28 Initiated Coverage National Alliance Securities Hold $69.45
2014-01-15 Initiated Coverage Nomura Neutral $70.00
2013-12-02 Upgrade Guggenheim Neutral to Buy
2013-11-22 Initiated Coverage Goldman Sachs Buy $71.00 to $76.00
2013-11-13 Boost Price Target Sanford C. Bernstein Outperform $77.00 to $81.00
2013-11-05 Boost Price Target Evercore ISI Equal Weight $69.00 to $74.00
2013-10-28 Downgrade BTIG Research Buy to Neutral
2013-10-24 Initiated Coverage Guggenheim Neutral $81.00
2013-10-21 Reiterated Stifel Buy $72 to $78
2013-10-21 Boost Price Target Stifel Nicolaus Buy $72.00 to $78.00
2013-10-15 Boost Price Target Maxim Group Buy $78.00 to $84.00
2013-10-14 Initiated Coverage Hanson Buy $76.00
2013-09-30 Downgrade Ned Davis Research Buy to Neutral
2013-08-29 Upgrade B. Riley & Co. Neutral to Buy $76
2013-08-22 Reiterated Telsey Advisory Group Not Rated $80 to $78
2013-05-10 Reiterated Stifel Buy $70 to $72
2013-05-10 Reiterated B. Riley & Co. Neutral $61 to $63
2013-04-16 Reiterated Barclays Overweight $68 to $72
2013-04-12 Upgrade B. Riley & Co. Sell to Neutral $47 to $61
2013-04-09 Reiterated Stifel Buy $58 to $70
2013-04-09 Reiterated Barclays Overweight $62 to $68
2013-03-15 Upgrade Maxim Group Hold to Buy $72
2012-11-20 Downgrade Caris & Company Average to Below Average
2012-11-09 Reiterated Stifel Nicolaus Buy $48 to $58
2012-07-12 Upgrade Barclays Equal Weight to Overweight $42 to $48
2012-05-11 Upgrade Stifel Nicolaus Hold to Buy $48
2012-05-11 Reiterated Barclays Equal Weight $40 to $42
2012-04-11 Upgrade Caris & Company Below Average to Average $39 to $40
2012-03-16 Reiterated Barclays Capital Equal Weight $34 to $40
2016-07-12 Reiterated Rating Albert Fried & Company Buy
2016-07-11 Lower Price Target Jefferies Group Hold $72.00 to $67.00
2016-06-22 Reiterated Rating Albert Fried & Company Buy $97.00
2016-06-22 Downgrade Morgan Stanley Overweight to Equal Weight $78.00 to $65.00
2016-06-17 Reiterated Rating Sanford C. Bernstein Market Perform

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Luxor Capital Group, LP 0.48%  (292247) AAMC / AMCX / ASPS / AUMA / BAS / BJRI / CLNY / CONN / EAGL / EBIX / HMTV / RCAP / WLH /
Sapan Joshua W President and CEO 0.42%  (251778) AMCX /
DOLAN JAMES LAWRENCE Member of 13(d) Group 0.22%  (132969) AMCX / CVC / MSG /
DOLAN CHARLES F Executive Chairman 0.09%  (57031) AMCX / CVC / MSG /
Carroll Edward A Chief Operating Officer 0.09%  (54568) AMCX /
Sweeney Brian 0.09%  (52243) AMCX / CVC / MSG /
Sullivan Sean S EVP and CFO 0.07%  (44263) AMCX / GOLF /
Gallagher James EVP and GC 0.04%  (21303) AMCX /
DOLAN THOMAS CHARLES Member of 13(d) Group 0.03%  (17228) AMCX / CVC / MSG /
DOLAN PATRICK FRANCIS Member of 13(d) Group 0.01%  (8323) AMCX / CVC / MSG /
TOW LEONARD 0.01%  (7947) AMCX / CVC /
Wymbs Christian B. EVP & Chief Accounting Officer 0.01%  (6092) AMCX /

Comments