AMC, After Boosting Bid, Buying RLJ Entertainment
AMC Networks, boosting a February bid, agreed to buy over-the-top programmer RLJ Entertainment in a deal worth about $274 million, with OK of RLJ founder-Chairman Robert Johnson, who with affiliates will own 17 percent. RLJ's Acorn TV, with British and…
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international content, and UMC -- or Urban Movie Channel, the first subscription VOD service for African-Americans -- have about 800,000 subscribers total, AMC said Monday. The companies in 2016 formed a partnership with the bigger cable programmer investing $65 million. The takeover “furthers AMC Networks’ digital strategy by meaningfully accelerating our interests in direct-to-consumer ad-free subscription services that we own and control, in addition to providing us with access to strong IP as we continue to diversify our revenue opportunities," said AMC CEO Josh Sapan.