AMC Networks has inked a deal to take near-majority control of BBC America, the U.S. branch of the larger London-based network.
AMC Networks, which already runs several channels, like AMC, SundanceTV, IFC and WE tv, signed a $200 million deal for 49.9 percent control of BBC's New York-based satellite.
With the agreement, the American cable company housing hit dramas like "Mad Men" and "The Walking Dead" will now add some U.K. flavor under the network's umbrella with shows like "Doctor Who" and "Sherlock," among others.
The president of AMC Network released a statement saying the merger "creates a powerful collection of networks that are among the most critically-acclaimed. ... And [the deal] is particularly well-suited to an era of on-demand viewing and expanding consumer choice."
And the deal looks good on both sides, as The Telegraph reports it "will allow BBC America to cut costs [at] the same time as gaining access to AMC's creative team." And, well, we've all seen what AMC can produce.
The combined AMC Network-BBC America unit comes as mergers between cable giants are being proposed left and right, which could make it much more difficult to compete.
The New York Times calls it "a wave of consolidation" and points to recently proposed mergers between industry heavyweights Comcast and Time Warner as well as a possible deal between AT&T and DirectTV.
So, the Times says, the AMC-BBC deal will give them "more leverage" when ironing out negotiations with those providers in the future.
Read more at newsy.com.
About the Author
