Amc Networks - AMCX STOCK NEWS

AMC Networks reported strong 2020 results, ending with over 6 million streaming subscribers, a 157% year-over-year growth. Total revenues reached $2.8 billion, with net income of $240 million ($4.64 per diluted share). Operating cash flow improved to $749 million, and free cash flow was $686 million. The company returned $354 million to shareholders through stock buybacks. However, overall revenues declined 8% from 2019, largely due to lower subscription and advertising revenues attributed to COVID-19 impacts.

AMC Networks and Omnicom Media Group have successfully executed two national linear addressable advertising campaigns for Volkswagen and another major advertiser, reaching nearly 25 million U.S. homes through Comcast and Charter systems. The campaigns showcased the efficiency of addressable advertising, achieving higher delivery and frequency than traditional methods. AMC plans to implement addressable advertising across all its platforms and enhance tracking and measurement capabilities to improve advertising effectiveness moving forward.

AMC Networks (NASDAQ: AMCX) will host a conference call on February 26, 2021, at 8:30 a.m. ET to discuss its 2020 fourth-quarter and full-year results. A press release detailing the results will be issued before the market opens.

The call will be available via webcast on the company’s website. Interested participants can also join by phone at 833-714-3268, using conference ID 5976434. A replay will be accessible from 11:30 a.m. on February 26 until March 5, 2021. AMC Networks is a global entertainment firm, renowned for its acclaimed content including popular series like The Walking Dead.

AMC Networks has announced its intent to redeem $400 million of its 4.75% Senior Notes due 2022 and $600 million of its 5.00% Senior Notes due 2024. The redemption will take place on February 26, 2021, at prices of 100% and 102.5% of the principal amounts, respectively, plus accrued interest. U.S. Bank National Association will distribute the notice of redemption to all registered holders. AMC Networks is known for its popular content and operates various brands, including AMC and BBC America. Forward-looking statements regarding future performance are included, highlighting inherent risks.

AMC Networks announced a public offering of $1 billion in 4.25% Senior Notes due 2029. The offering is expected to close on February 8, 2021. Proceeds will be used to redeem $400 million of 4.75% Senior Notes due December 2022 at 100% redemption price and $600 million of 5.00% Senior Notes due April 2024 at a 102.5% redemption price. The registration statement for the offering has been filed with the SEC, and multiple financial institutions will act as joint book-running managers.

AMC Networks has announced a proposed public offering of $500 million in Senior Notes due 2029. The proceeds will be used to redeem $400 million of the 4.75% Senior Notes due December 2022 and $100 million of the 5.00% Senior Notes due April 2024. This offering is part of a preliminary prospectus filed with the SEC. Notably, the offering will only occur through specified prospectus documents, and this announcement is not a solicitation for sales of securities.

AMC Networks has appointed Christina Spade as Executive Vice President, Chief Financial Officer, effective January 15, 2021. Spade brings extensive experience from ViacomCBS, where she oversaw all financial operations. She replaces Sean Sullivan, who stepped down in October 2020. Spade is expected to drive financial operations and support the company's streaming business growth. AMC Networks operates several acclaimed brands and streaming services, known for quality content like The Walking Dead and Better Call Saul.

AMC Networks has announced that Seth Zaslow, a key figure in its investor relations, will depart at the end of the year. Nicholas Seibert, currently the VP of Corporate Development, will take over the investor relations role. Zaslow joined AMC Networks in 2011 and significantly contributed to its investor relations since the company's spin-off from Cablevision. Seibert, who joined in 2017, brings experience from GAMCO Investors and Bank of America Merrill Lynch. The company continues to focus on its growth strategy with seasoned leaders.

AMC Networks reported its third quarter financial results for 2020, with net revenues at $654 million, a 9% decline year-over-year. Operating income fell 17.2% to $139 million, and net income dropped to $62 million from $117 million in 2019. Despite these challenges, the company anticipates 4 million+ subscribers for its SVOD services by year-end and plans to reach 5.5 million with the addition of AMC+. The impact of COVID-19 affected advertising sales and production schedules, yet liquidity remains strong with $219 million in operating cash flow and $203 million in free cash flow reported.