International Courant
AMC Networks has acquired full management of BBC America, its three way partnership with BBC Studios.
The US media firm has owned a 49.9% stake within the channel since 2014, which it bought for $200 million in a take care of BBC Worldwide. With this new transaction, which closed Nov. 1, AMC Networks good points the remaining 50.1% of BBC America in change for $42 million in money.
Per AMC Networks’ Q3 earnings outcomes, which have been launched Friday, AMC Networks “now owns 100% of the BBC America enterprise, with full operational management, and can proceed to completely consolidate BBC America.”
Together with “Mad Males,” “The Strolling Lifeless” and “Breaking Unhealthy,” a number of the exhibits AMC Networks is finest recognized for are its previous BBC America hits and demanding darlings, together with “Killing Eve,” “Orphan Black” and ” Physician Who” (which now airs on Disney+).
AMC Networks says “future contractual programming commitments to BBC Studios would have been considerably decreased,” had the deal been closed by Sept. 30, the ultimate day of its final quarter, and $132.9 million of redeemable non-controlling curiosity associated to BBC America “would have been eradicated.” “Going ahead, AMC Networks will not be making any associated money distributions to non-controlling pursuits,” the corporate says.
“We now personal 100% of this iconic channel with full operational management and stay up for what the longer term holds,” AMC Networks CEO Kristin Dolan stated in the course of the Q3 earnings name with traders. “In fact, we nonetheless keep a detailed business relationship with BBC Studios, to make sure the model and programming stay high tier. We’ll proceed to completely consolidate BBC America, as we did previous to the transaction.”
The sale of BBC America to AMC is probably indicative BBC Studios is planning a brand new technique for its content material distribution within the US In February BBC Studios wholly acquired streaming platform BritBox Worldwide, which focuses on providing “better of British” content material internationally, together with in North America. The streamer was initially based in 2017 as a three way partnership between the BBC and fellow UK public service broadcaster ITV, with each networks’ premium content material going to the platform, from the BAFTA Movie Awards ceremony, which airs on the BBC within the UK, to current ITV drama “Joan,” starring Sophie Turner.
On the time of the acquisition, which noticed BBC Studios purchase out ITV’s 50% stake for $322 million, Rebecca Glashow, BBC Studios world media and streaming CEO stated: “We see super alternative to develop this distinctive service and take it to even higher heights for its subscribers, with the total energy of the BBC behind it.”
In 2022, BBC Studios additionally moved one in every of its finest recognized franchises, “Physician Who,” away from BBC America after inking a take care of Disney+, which noticed the Mouse Home develop into the unique dwelling of the long-lasting sci-fi sequence internationally.
The BBC additionally has a premium ad-free documentary streaming service in North America.
A rep for BBC Studios didn’t reply by press time.
AMC Networks Acquires Full Management of BBC America for $42 Million
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