AMC Global Media posts $41.6M Q3 operating loss

The quarter includes an $85 million settlement charge, with another $35 million of settlement consideration due by January 31, 2027.

Available on EDGAR 11/09/2026 - 04:04 PM EST Accepted by SEC EDGAR 11/09/2026 - 04:04 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

AMC Global Media Inc. (AMCX) reported third-quarter 2026 net revenue of $566.1 million, up 0.8% year over year. It recorded an operating loss of $41.6 million and adjusted operating income of $70.4 million, down 25.4%. Net cash used in operating activities was $41.8 million; free cash flow was $(52.4) million, or $33 million excluding the one-time settlement payment. Adjusted EPS was $0.44 versus $0.18, while diluted EPS was $(1.13) versus $1.38.

Domestic revenue rose 1.9% to $495.1 million, with content licensing up 41.7%; International revenue fell 5.0% to $73.3 million. A settlement provided for $120 million of total consideration: $85 million was paid September 16, 2026, and $35 million is due by January 31, 2027 as an advance against future participation amounts; an $85 million charge was recorded in Q3. The company sold ALLBLK for cash, recording a $3.7 million pretax gain, and repurchased 2,817,888 shares under a $30 million ASR.

1 point · 0 major

NegativeiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

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1 major · 4 points

How the balance works

Positive

• Moderate pointAdjusted EPS was $0.44, versus $0.18 a year earlier.

Negative

• Major pointSettlement included an $85 million Q3 charge. 25% of market cap
• Moderate pointAdjusted operating income fell 25.4% to $70.4 million in Q3.
• Moderate pointOperating cash flow was $41.8 million used, versus $44.8 million provided.
• Moderate pointGAAP diluted EPS was $(1.13), versus $1.38 a year earlier.

Filing Explained

At September 30, 2026, AMC Global Media reported $440,162 thousand in cash and equivalents and $1,735,554 thousand in total debt; its supplemental data lists $1,295,392 thousand in net debt.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Net revenues: $566.1 million Adjusted operating income: $70.4 million Diluted EPS: $(1.13) per diluted share +5 more

8 metrics

Net revenues $566.1 million Three months ended September 30, 2026; up 0.8% year over year

Adjusted operating income $70.4 million Third quarter 2026; down 25.4% year over year

Diluted EPS $(1.13) per diluted share Third quarter 2026; compared with $1.38 a year earlier

Adjusted EPS $0.44 per diluted share Third quarter 2026; compared with $0.18 a year earlier

Net cash used in operating activities $41.8 million Three months ended September 30, 2026

Free cash flow $(52.4) million Three months ended September 30, 2026

Settlement consideration $120 million Settlement agreement; $85 million paid and $35 million due by January 31, 2027

Class A Common Stock repurchased 2,817,888 shares Under the accelerated share repurchase agreement concluded in October

Key Terms

Adjusted Operating Income, Free Cash Flow, Modified Adjusted Gross Receipts participation amounts, accelerated share repurchase

4 terms

Adjusted Operating Income financial

"defines Adjusted Operating Income (Loss), which is a non-GAAP financial measure"

Adjusted operating income is a company's profit from its main activities, excluding certain one-time or unusual costs and gains. It helps investors see how well the business is performing in its normal operations, without distractions from rare events or expenses. This way, they get a clearer picture of the company’s true profitability.

Free Cash Flow financial

"defines Free Cash Flow, which is a non-GAAP financial measure"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

Modified Adjusted Gross Receipts participation amounts financial

"advance against Modified Adjusted Gross Receipts participation amounts"

accelerated share repurchase financial

"entered into an accelerated share repurchase agreement"

An accelerated share repurchase is a deal where a company hires a bank to buy back a large block of its own stock immediately on the open market, with the bank later settling the exact number of shares over time. For investors it matters because the immediate reduction in shares outstanding can raise per‑share earnings and often supports the stock price, but it also uses company cash or borrowing and can change liquidity and future growth funding.

Earnings Snapshot

Net revenues: $566.1 million

Third quarter ended September 30, 2026

Net revenues $566.1 million Up 0.8% year over year

Operating income (loss) $(41.6) million Compared with $55.5 million of operating income in the prior-year quarter

Adjusted operating income $70.4 million Down 25.4% year over year

Diluted EPS $(1.13) Compared with $1.38 in the prior-year quarter

Adjusted EPS $0.44 Compared with $0.18 in the prior-year quarter

Net cash used in operating activities $41.8 million Compared with $44.8 million provided in the prior-year quarter

Free cash flow $(52.4) million Compared with $42.0 million in the prior-year quarter

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were AMCX's third-quarter 2026 financial results?

AMC Global Media reported $566.1 million of revenue, an operating loss of $41.6 million, adjusted operating income of $70.4 million, diluted EPS of $(1.13), and adjusted EPS of $0.44 for the quarter ended September 30, 2026.

What were the terms of AMCX's settlement?

The settlement provided for $120 million of total consideration: $85 million was paid on September 16, 2026, and $35 million is due no later than January 31, 2027. The latter is an advance against Modified Adjusted Gross Receipts participation amounts under arrangements for The Walking Dead and Fear the Walking Dead.

How many shares did AMCX repurchase under its ASR?

Under a $30 million accelerated share repurchase agreement that concluded in October, AMC Global Media repurchased 2,817,888 shares of Class A Common Stock. The company had $87 million of authorization remaining under its Stock Repurchase Program as of September 30, 2026.

What happened in AMCX's ALLBLK sale?

AMC Global Media completed a cash sale of its ALLBLK streaming business on August 26, 2026, recording a $3.7 million pretax gain. It then entered into a long-term content licensing agreement with the buyer.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FALSE000151499100015149912026-11-092026-11-09

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 9, 2026

Commission File Number: 1-35106

AMC Global Media Inc.

(Exact name of registrant as specified in its charter)

Nevada						27-5403694
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)
11 Penn Plaza,
New York,			NY			10001
(Address of principal executive offices)						(Zip Code)

(212) 324-8500

(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A Common Stock, par value $0.01 per share

AMCX

The

NASDAQ

Stock Market LLC

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02    Results of Operations and Financial Condition.

On November 9, 2026, AMC Global Media Inc. (the “Registrant”) issued a press release announcing its financial results for the quarter ended September 30, 2026. A copy of the Registrant’s press release is being furnished herewith as Exhibit 99.1 and is incorporated herein by reference in its entirety.

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Registrant under the Securities Act of 1933 or the Exchange Act.

Item 9.01    Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number						Item
99.1						Press Release issued by the Registrant dated November 9, 2026 announcing its financial results for the quarter ended September 30, 2026.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

AMC Global Media Inc.

Date:

November 9, 2026

By:

/s/ Michael J. Sherin III

Michael J. Sherin III

Executive Vice President and Chief Accounting Officer

AMC GLOBAL MEDIA INC. REPORTS THIRD QUARTER 2026 RESULTS

New York, NY – November 9, 2026: AMC Global Media Inc. ("AMC Global Media" or the "Company") (NASDAQ: AMCX) today reported financial results for the third quarter ended September 30, 2026.

Chief Executive Officer Kristin Dolan said: "We saw consolidated revenue growth in the third quarter, led by our licensing and streaming businesses. We also saw sequential and year-over-year improvements in both domestic affiliate and advertising revenue trends. We continue to leverage our key points of differentiation including a targeted streaming strategy that is complementary to larger and more expensive options from other providers, running on a single technology platform with attractive pricing and packaging. Our AMC Studios business is creating valuable and distinctive IP for our own platforms and for partners through co-production relationships and content sales."

Operational Highlights:

•Announced that all seasons of The Walking Dead will be available on AMC+ as part of The Walking Dead Universe Collection, which includes all six spin-off series, beginning on January 7th.

•Expanded relationship with Netflix through an innovative co-production agreement to develop new AMC Studios series together. Greenlit the first new series under this new construct, a spy drama called Bannerman.

•Partnered with Alcon Entertainment and StudioCanal to greenlight new AMC Studios co-produced series Point Break.

•Greenlit Happy Jack, a new AMC Studios comedy starring Charlie Sheen and Martin Sheen, set to premiere on AMC and AMC+ in 2027.

•Commenced production on Thunder Road, the AMC Studios multi-generational racing drama produced in partnership with NASCAR and starring Dennis Quaid.

Financial Highlights – Third Quarter Ended September 30, 2026:

•Net cash used in operating activities of $42 million; Free Cash Flow(1) of $(52) million.

◦Free Cash Flow of $33 million, excluding the impact of one-time settlement payment.

•Operating loss of $42 million; Adjusted Operating Income(1) of $70 million.

•Domestic Operations revenue of $495 million increased 2% from the prior year period.

•Diluted EPS of $(1.13); Adjusted EPS(1) of $0.44.

Consolidated Results:

(dollars in thousands, except per share amounts)			Three Months Ended September 30,																		Nine Months Ended September 30,
			2026						2025						Change						2026						2025						Change
Net Revenues			$	566,070					$	561,741					0.8		%				$	1,655,692					$	1,716,998					(3.6)		%
Operating Income (Loss)			$	(41,614)					$	55,518					n/m						$	5,501					$	184,184					(97.0)		%
Adjusted Operating Income			$	70,441					$	94,446					(25.4)		%				$	185,483					$	308,317					(39.8)		%
Diluted Earnings (Loss) Per Share			$	(1.13)					$	1.38					n/m						$	(2.06)					$	2.63					n/m
Adjusted Earnings Per Share			$	0.44					$	0.18					n/m						$	0.33					$	1.39					(76.3)		%
Net cash provided by (used in) operating activities			$	(41,826)					$	44,828					n/m						$	82,833					$	256,424					(67.7)		%
Free Cash Flow			$	(52,439)					$	41,996					n/m						$	55,643					$	231,922					(76.0)		%
n/m - Absolute percentages greater than 100% and comparisons between positive and negative values or zero values are considered not meaningful.

(1) See page 4 of this earnings release for a discussion of non-GAAP financial measures used in this release. This discussion includes the definition of Adjusted Operating Income, Adjusted EPS and Free Cash Flow.

1

Segment Results – Domestic Operations:

(dollars in thousands)			Three Months Ended September 30,																		Nine Months Ended September 30,
			2026						2025						Change						2026						2025						Change
Revenues, net:
Subscription			$	308,447					$	316,243					(2.5)		%				$	919,631					$	949,975					(3.2)		%
Advertising			102,448						110,033						(6.9)		%				324,124						351,887						(7.9)		%
Content licensing and other			84,247						59,447						41.7		%				192,464						197,021						(2.3)		%
Total revenues, net			$	495,142					$	485,723					1.9		%				$	1,436,219					$	1,498,883					(4.2)		%
Segment Adjusted Operating Income			$	89,135					$	112,223					(20.6)		%				$	242,368					$	362,486					(33.1)		%

Third Quarter Results

•Domestic Operations revenue increased 2% from the prior year to $495 million.

◦Subscription revenue decreased 2% to $308 million primarily due to a decline in affiliate revenue, partially offset by streaming revenue growth.

▪Streaming revenue increased 4% to $181 million primarily due to the impact of price increases across our services. Excluding revenue from ALLBLK in the current and prior third quarter periods, streaming revenue increased 7%.

▪Affiliate revenue declined 11% to $127 million primarily due to basic subscriber declines.

◦Advertising revenue decreased 7% to $102 million primarily due to lower marketplace pricing, partially offset by digital advertising growth.

◦Content licensing revenue increased 42% to $84 million primarily due to the timing and availability of deliveries in the period.

•Segment Adjusted Operating Income decreased 21% to $89 million. The decrease in segment Adjusted Operating Income was primarily driven by increased technical and operating expenses.

Segment Results – International:

(dollars in thousands)			Three Months Ended September 30,																		Nine Months Ended September 30,
			2026						2025						Change						2026						2025						Change
Revenues, net:
Subscription			$	46,088					$	48,087					(4.2)		%				$	139,062					$	139,858					(0.6)		%
Advertising			24,255						25,898						(6.3)		%				77,010						74,509						3.4		%
Content licensing and other			2,911						3,159						(7.9)		%				8,045						8,258						(2.6)		%
Total revenues, net			$	73,254					$	77,144					(5.0)		%				$	224,117					$	222,625					0.7		%
Segment Adjusted Operating Income			$	10,517					$	11,923					(11.8)		%				$	30,313					$	36,511					(17.0)		%

Third Quarter Results

•International revenue decreased 5% from the prior year to $73 million. Excluding the impact of foreign currency translation, International revenue decreased 4%.

◦Subscription revenue decreased 4% to $46 million primarily due to the previously disclosed wind-down of a joint venture that operated primarily in Poland and Africa and the impact of foreign currency translation. Excluding the impact of foreign currency translation, subscription revenue decreased 3%.

◦Advertising revenue decreased 6% to $24 million primarily due to a decline in the U.K. advertising market, partially offset by digital advertising growth.

•Segment Adjusted Operating Income decreased 12% to $11 million. Segment adjusted operating income decreased primarily due to lower subscription and advertising revenues, partially offset by lower selling, general and administrative expenses.

2

Other Matters:

Legal Settlement

On September 4, 2026, the Company entered into a settlement agreement (the “Settlement Agreement”) with Robert Kirkman, Robert Kirkman, LLC, Glen Mazzara, 44 Strong Productions, Inc., David Alpert, Circle of Confusion Productions, LLC, New Circle of Confusion Productions, Inc., Charles Eglee, United Bongo Drum, Inc.; Gale Anne Hurd, and Valhalla Entertainment, Inc. f/k/a Valhalla Motion Pictures, Inc. (together, the "Plaintiffs") resolving breach of contract claims. The complaint was initially filed in 2022 and a jury trial was scheduled to commence on October 27, 2026.

The Settlement Agreement provides for total consideration of $120 million (the “Settlement Payment”) to the Plaintiffs consisting of (i) a cash payment of $85 million, paid on September 16, 2026 and (ii) $35 million to be paid no later than January 31, 2027, which $35 million payment will be treated as an advance against Modified Adjusted Gross Receipts participation amounts that will accrue in the normal course on a go-forward basis to the Plaintiffs under contractual arrangements relating to the television series The Walking Dead and Fear the Walking Dead.

With regard to the Settlement Payment, the Company recorded a charge of $85 million during the three months ended September 30, 2026, included in Impairment and other charges, in consideration for the dismissal of the action with prejudice.

Sale of a Business

On August 26, 2026, the Company divested its ALLBLK streaming business in a cash sale transaction. The transaction resulted in a pre-tax gain of $3.7 million recorded in Impairment and other charges for the three months ended September 30, 2026. Subsequent to the divestiture, the Company entered into a long-term content licensing agreement with the buyer of the ALLBLK streaming business.

Restructuring and Other Related Charges

Third quarter restructuring and other related charges were $2.2 million and included $2.1 million related to the sale of ALLBLK and $0.1 million related to the Company's restructuring plan in its International segment.

Stock Repurchase Program

On May 8, 2026, the Company entered into an accelerated share repurchase ("ASR") agreement with Citibank, N.A. (“Citibank”) to repurchase $30 million of its outstanding Class A Common Stock as part of its existing Stock Repurchase Program. Under the ASR agreement, which concluded in October, the Company repurchased 2,817,888 shares of Class A Common Stock.

As of September 30, 2026, the Company had $87 million of authorization remaining for repurchase under the Stock Repurchase Program.

Outstanding Shares

As of October 30, 2026, the Company had 29,674,947 shares of Class A Common Stock and 11,484,408 shares of Class B Common Stock outstanding.

Please see the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2026, which will be filed later today, for further details regarding the above matters.

3

Description of Non-GAAP Measures

Internally, the Company uses Adjusted Operating Income (Loss) and Free Cash Flow measures as the most important indicators of its business performance and evaluates management’s effectiveness with specific reference to these indicators.

The Company defines Adjusted Operating Income (Loss), which is a non-GAAP financial measure, as operating income (loss) before share-based compensation expense or benefit (including equity-classified share-based compensation expenses or benefit and liability-classified share-based compensation expenses or benefit for non-employee director stock units), depreciation and amortization, impairment and other charges (including gains or losses on sales or dispositions of businesses), restructuring and other related charges, cloud computing amortization, and including the Company’s proportionate share of adjusted operating income (loss) from majority-owned equity method investees. From time to time, the Company may exclude the impact of certain events, gains, losses, or other charges (such as significant legal settlements) from Adjusted Operating Income (Loss) that affect the Company's operating performance. Because it is based upon operating income (loss), Adjusted Operating Income (Loss) also excludes interest expense (including cash interest expense) and other non-operating income and expense items. The Company believes that the exclusion of share-based compensation expenses or benefit (including equity-classified share-based compensation expenses or benefit and liability-classified share-based compensation expenses or benefit for non-employee director stock units) allows management and investors to better track the performance of the various operating units of the business without regard to the period-to-period effects of share-based compensation awards, including the changes in fair value of liability-classified share-based compensation awards to non-employee directors that will be cash settled. Beginning in June 2026, non-employee directors receive a portion of their compensation in director stock units that will be settled in cash. These liability-classified share-based compensation awards to non-employee directors are included in the share-based compensation adjustment to operating income (loss) to allow for comparability between periods without regard to the period-to-period effects of share-based compensation awards (including the changes in fair value of those awards from period to period). Liability-classified share-based compensation awards to employees are included in Adjusted Operating Income (Loss).

The Company believes that Adjusted Operating Income (Loss) is an appropriate measure for evaluating the operating performance of the business segments and the Company on a consolidated basis. Adjusted Operating Income (Loss) and similar measures with similar titles are common performance measures used by investors, analysts, and peers to compare performance in the industry.

Adjusted Operating Income (Loss) should be viewed as a supplement to and not a substitute for operating income (loss), net income (loss), and other measures of performance presented in accordance with U.S. generally accepted accounting principles ("GAAP"). Since Adjusted Operating Income (Loss) is not a measure of performance calculated in accordance with GAAP, this measure may not be comparable to similar measures with similar titles used by other companies. For a reconciliation of operating income (loss) to Adjusted Operating Income (Loss), please see page 10 of this release.

The Company defines Free Cash Flow, which is a non-GAAP financial measure, as net cash provided by operating activities less capital expenditures, all of which are reported in the Company's Consolidated Statement of Cash Flows. The Company believes the most comparable GAAP financial measure of its liquidity is net cash provided by operating activities. The Company believes that Free Cash Flow is useful as an indicator of its overall liquidity, as the amount of Free Cash Flow generated in any period is representative of cash that is available for debt repayment, investment, and other discretionary and non-discretionary cash uses. The Company also believes that Free Cash Flow is one of several benchmarks used by analysts and investors who follow the industry for comparison of its liquidity with other companies in the industry, although the Company’s measure of Free Cash Flow may not be directly comparable to similar measures reported by other companies. For a reconciliation of net cash provided by operating activities to Free Cash Flow, please see page 10 of this release.

The Company defines Adjusted Earnings per Diluted Share (“Adjusted EPS”), which is a non-GAAP financial measure, as earnings per diluted share excluding the following items: amortization of acquisition-related intangible assets; impairment and other charges (including gains or losses on sales or dispositions of businesses); non-cash impairments of goodwill, intangible and fixed assets; restructuring and other related charges; and the impact associated with the modification of debt arrangements, including gains and losses related to the extinguishment of debt; as well as the impact of taxes on the aforementioned items and other one-time tax charges/benefits. The Company believes the most comparable GAAP financial measure is earnings per diluted share. The Company believes that Adjusted EPS is one of several benchmarks used by analysts and investors who follow the industry for comparison of its performance with other companies in the industry, although the Company’s measure of Adjusted EPS may not be directly comparable to similar measures reported by other companies. For a reconciliation of earnings per diluted share to Adjusted EPS, please see pages 11-12 of this release.

4

Forward-Looking Statements

This earnings release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors, including financial community and rating agency perceptions of the Company and its business, operations, financial condition and the industries in which it operates and the factors described in the Company’s filings with the Securities and Exchange Commission, including the sections entitled "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations" contained therein. The Company disclaims any obligation to update any forward-looking statements contained herein.

Conference Call Information

AMC Global Media will host a conference call today at 4:30 p.m. ET to discuss its third quarter 2026 results. To listen to the call, please visit investors.amcglobalmedia.com.

About AMC Global Media

AMC Global Media (Nasdaq: AMCX) is home to many of the greatest stories and characters in TV and film and the premier destination for passionate and engaged fan communities around the world. The Company creates and curates celebrated series and films across distinct brands and makes them available to audiences everywhere. Its portfolio includes targeted streaming services AMC+, Acorn TV, Shudder, Sundance Now, HIDIVE and All Reality; cable networks AMC, BBC AMERICA (which includes U.S. distribution and sales responsibilities for BBC News), IFC, SundanceTV and We TV; and film distribution label Independent Film Company. The Company also operates AMC Studios, its in-house studio, production and distribution operation behind acclaimed and fan-favorite original franchises including The Walking Dead Universe and the Anne Rice Immortal Universe. AMC Global Media is headquartered in the United States, with international operations in Iberia, Latin America, Central Europe, the U.K., Australia and New Zealand.

Contact

Investor Relations						Corporate Communications
Nicholas Seibert						Jim Maiella
nicholas.seibert@amcglobalmedia.com						jim.maiella@amcglobalmedia.com

5

AMC GLOBAL MEDIA INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(in thousands, except per share amounts)

(unaudited)

			Three Months Ended September 30,												Nine Months Ended September 30,
			2026						2025						2026						2025
Revenues, net			$	566,070					$	561,741					$	1,655,692					$	1,716,998
Operating expenses:
Technical and operating (excluding depreciation and amortization)			313,760						291,075						885,721						842,297
Selling, general and administrative			190,991						189,291						617,614						608,970
Depreciation and amortization			19,447						21,378						57,690						68,750
Impairment and other charges			81,280						—						81,280						—
Restructuring and other related charges			2,206						4,479						7,886						12,797
Total operating expenses			607,684						506,223						1,650,191						1,532,814
Operating income (loss)			(41,614)						55,518						5,501						184,184
Other income (expense):
Interest expense			(41,367)						(44,574)						(125,379)						(130,426)
Interest income			3,715						6,113						10,025						22,733
Gain (loss) on extinguishment of debt, net			—						105,316						(3,784)						131,061
Miscellaneous, net			(3,424)						473						(17,395)						21,180
Total other income (expense)			(41,076)						67,328						(136,533)						44,548
Income (loss) from operations before income taxes			(82,690)						122,846						(131,032)						228,732
Income tax (expense) benefit			36,656						(42,765)						48,069						(73,792)
Net income (loss) including noncontrolling interests			(46,034)						80,081						(82,963)						154,940
Less: Net income attributable to noncontrolling interests			(1,352)						(3,552)						(5,236)						(10,073)
Net income (loss) attributable to AMC Global Media's stockholders			$	(47,386)					$	76,529					$	(88,199)					$	144,867
Net income (loss) per share attributable to AMC Global Media's stockholders:
Basic			$	(1.13)					$	1.73					$	(2.06)					$	3.25
Diluted			$	(1.13)					$	1.38					$	(2.06)					$	2.63
Weighted average common shares:
Basic			41,847						44,136						42,824						44,606
Diluted			41,847						56,275						42,824						56,412

6

AMC GLOBAL MEDIA INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands) / (unaudited)

			Nine Months Ended September 30,
			2026						2025
Cash flows from operating activities:
Net income (loss) including noncontrolling interests			$	(82,963)					$	154,940
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation and amortization			57,690						68,750
Share-based compensation expenses			19,693						19,827
Non-cash restructuring and other related charges			—						5,320
Amortization of program rights			630,132						625,870
Amortization of deferred carriage fees			8,014						18,210
Unrealized foreign currency transaction (gain) loss			5,683						(11,650)
Amortization of deferred financing costs and discounts on indebtedness			6,695						5,611
(Gain) loss on extinguishment of debt, net			3,784						(131,061)
Deferred income taxes			77,668						20,587
Gain on sale of business			(3,720)						—
Other, net			(1,639)						(7,531)
Changes in assets and liabilities:
Accounts receivable, trade (including amounts due from related parties, net)			40,698						58,753
Prepaid expenses and other assets			(118,555)						41,461
Program rights and obligations, net			(521,589)						(569,241)
Deferred revenue			(1,312)						13,505
Accounts payable, accrued liabilities and other liabilities			(37,446)						(56,927)
Net cash provided by operating activities			82,833						256,424
Cash flows from investing activities:
Capital expenditures			(27,190)						(24,502)
Proceeds from sale of business, net of disposal costs			26,467						—
Other investing activities, net			(734)						(8)
Net cash used in investing activities			(1,457)						(24,510)
Cash flows from financing activities:
Proceeds from the issuance of 10.50% Senior Secured Notes due 2032, net			—						394,500
Redemption of 10.25% Senior Secured Notes due 2029			(14,404)						—
Payments on Term Loan A Facility			(82,890)						(114,375)
Tender and repurchase of 4.25% Senior Notes due 2029			—						(569,078)
Payments for financing costs			(2,000)						(3,094)
Deemed repurchases of restricted stock units			(7,098)						(4,044)
Purchase of treasury stock			(30,000)						(10,329)
Principal payments on finance lease obligations			(2,596)						(3,542)
Distributions to noncontrolling interests			—						(7,271)
Net cash used in financing activities			(138,988)						(317,233)
Net increase (decrease) in cash and cash equivalents from operations			(57,612)						(85,319)
Effect of exchange rate changes on cash and cash equivalents			(4,605)						17,508
Cash and cash equivalents at beginning of period			502,379						784,649
Cash and cash equivalents at end of period			$	440,162					$	716,838

7

AMC GLOBAL MEDIA INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except per share amounts)

(unaudited)

			September 30, 2026						December 31, 2025
ASSETS
Current Assets:
Cash and cash equivalents			$	440,162					$	502,379
Accounts receivable, trade (less allowance for doubtful accounts of $8,461 and $11,523)			532,401						575,263
Prepaid expenses and other current assets			318,086						202,967
Total current assets			1,290,649						1,280,609
Property and equipment, net of accumulated depreciation of $442,377 and $409,991			108,930						115,978
Program rights, net			1,508,526						1,763,084
Intangible assets, net			161,686						184,803
Goodwill			163,040						166,809
Deferred tax assets, net			11,656						17,781
Operating lease right-of-use assets			68,184						72,545
Other assets			352,822						335,272
Total assets			$	3,665,493					$	3,936,881
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable			$	108,738					$	94,742
Accrued liabilities			292,769						323,029
Current portion of program rights obligations			209,452						258,252
Deferred revenue			61,954						63,651
Current portion of long-term debt			—						11,068
Current portion of lease obligations			6,149						17,643
Total current liabilities			679,062						768,385
Program rights obligations			119,265						181,773
Long-term debt, net			1,663,478						1,741,225
Lease obligations			81,475						82,263
Deferred tax liabilities, net			180,256						108,164
Other liabilities			42,528						41,322
Total liabilities			2,766,064						2,923,132
Commitments and contingencies
Stockholders' equity:
Class A Common Stock, $0.01 par value, 360,000 shares authorized: 66,730 and 66,730 shares issued and 29,766 and 31,215 shares outstanding, respectively			667						667
Class B Common Stock, $0.01 par value, 90,000 shares authorized: 11,484 shares issued and outstanding			115						115
Preferred stock, $0.01 par value, 45,000 shares authorized: none issued			—						—
Paid-in capital			423,152						429,902
Accumulated earnings			2,087,761						2,176,124
Treasury stock, at cost (36,965 and 35,516 shares of Class A Common Stock, respectively)			(1,419,793)						(1,406,027)
Accumulated other comprehensive loss			(228,947)						(218,910)
Total AMC Global Media stockholders' equity			862,955						981,871
Non-redeemable noncontrolling interests			36,474						31,878
Total stockholders' equity			899,429						1,013,749
Total liabilities and stockholders' equity			$	3,665,493					$	3,936,881

8

AMC GLOBAL MEDIA INC.

SUPPLEMENTAL FINANCIAL DATA

(in thousands)

(unaudited)

Capitalization			September 30, 2026
Cash and cash equivalents			$	440,162
4.25% Senior Notes due February 2029			276,706
4.25% Convertible Senior Notes due February 2029 (a)			143,750
10.50% Senior Secured Notes due July 2032			1,315,098
Senior notes (b)			$	1,735,554
Total debt			$	1,735,554
Net debt			$	1,295,392
Finance leases			13,121
Net debt and finance leases			$	1,308,513
			Twelve Months Ended September 30, 2026
Operating Income (Loss) - (GAAP)			$	(45,361)
Share-based compensation expense			24,057
Depreciation and amortization			83,365
Restructuring and other related charges			21,625
Impairment and other charges			179,064
Cloud computing amortization			8,698
Majority owned equity investees			17,592
Adjusted Operating Income - (Non-GAAP)			$	289,040
Leverage ratio (c)			4.5			x

(a)Subject to the terms of the indenture for the Convertible Notes, the Convertible Notes may be converted at an initial conversion rate of 78.5083 shares of Class A Common Stock per $1,000 principal amount of Convertible Notes (equivalent to an initial conversion price of approximately $12.74 per share of Class A Common Stock).

(b)Represents the aggregate principal amount of the debt.

(c)Represents net debt and finance leases divided by Adjusted Operating Income for the twelve months ended September 30, 2026. No adjustments have been made for consolidated entities that are not 100% owned.

9

AMC GLOBAL MEDIA INC.

SUPPLEMENTAL FINANCIAL DATA

(in thousands)

(unaudited)

Adjusted Operating Income			Three Months Ended September 30,												Nine Months Ended September 30,
			2026						2025						2026						2025
Operating income (loss)			$	(41,614)					$	55,518					$	5,501					$	184,184
Share-based compensation expenses (1)			5,728						6,027						18,554						19,827
Depreciation and amortization			19,447						21,378						57,690						68,750
Restructuring and other related charges			2,206						4,479						7,886						12,797
Impairment and other charges			81,280						—						81,280						—
Cloud computing amortization			1,892						2,405						6,308						8,343
Majority owned equity investees AOI			1,502						4,639						8,264						14,416
Adjusted operating income			$	70,441					$	94,446					$	185,483					$	308,317
(1) Includes $1.0 million and $2.0 million for the three and nine months ended September 30, 2026, respectively, associated with cash-settled director stock units granted to non-employee directors.

Free Cash Flow (1)			Three Months Ended September 30,												Nine Months Ended September 30,
			2026						2025						2026						2025
Net cash provided by operating activities			$	(41,826)					$	44,828					$	82,833					$	256,424
Less: capital expenditures			(10,613)						(2,832)						(27,190)						(24,502)
Free Cash Flow			$	(52,439)					$	41,996					$	55,643					$	231,922

Supplemental Cash Flow Information			Three Months Ended September 30,												Nine Months Ended September 30,
			2026						2025						2026						2025
Restructuring initiatives (2)			$	(884)					$	(3,164)					$	(20,613)					$	(11,084)
Distributions to noncontrolling interests (3)			—						(7,271)						—						(7,271)
Legal settlement			(85,000)						—						(85,000)						—
(1) Free Cash Flow includes the impact of certain cash receipts or payments (such as restructuring initiatives, significant legal settlements and programming write-offs) that affect period-to-period comparability.
(2) Restructuring initiatives includes cash payments of $0.9 million and $19.6 million for severance and employee-related costs for the three and nine months ended September 30, 2026, respectively, and $1.0 million for content impairments and other exit costs for the nine months ended September 30, 2026. Restructuring initiatives includes cash payments of $3.1 million and $10.3 million for severance and employee-related costs for the three and nine months ended September 30, 2025, respectively, and $0.1 million and $0.8 million for content impairments and other exit costs for the three and nine months ended September 30, 2025, respectively.
(3) For the three months ended September 30, 2025, distributions to noncontrolling interests included a cash distribution of $7.3 million primarily related to the one-time retroactive revenue adjustment payments received in the U.K. that were recognized in the second and fourth quarters of 2024.

10

AMC GLOBAL MEDIA INC.

SUPPLEMENTAL FINANCIAL DATA

(in thousands, except per share amounts)

(unaudited)

Adjusted Earnings Per Share
			Three Months Ended September 30, 2026
			Income (loss) from operations before income taxes						Income tax (expense) benefit						Less: Net (income) loss attributable to noncontrolling interests						Net income (loss) attributable to AMC Global Media's stockholders						Diluted EPS attributable to AMC Global Media's stockholders
Reported Results (GAAP)			$	(82,690)					$	36,656					$	(1,352)					$	(47,386)					$	(1.13)
Adjustments:
Amortization of acquisition-related intangible assets			7,583						(1,720)						—						5,863						0.14
Restructuring and other related charges			2,206						(520)						—						1,686						0.04
Impairment and other charges			81,280						(17,595)						—						63,685						1.52
(Gain) loss on extinguishment of debt, net			—						—						—						—						—
Debt modification expenses			—						—						—						—						—
Dilutive income and share basis difference - GAAP vs. Adjusted(1)			1,527						(366)						—						1,161						(0.13)
Adjusted Results (Non-GAAP)			$	9,906					$	16,455					$	(1,352)					$	25,009					$	0.44

(1) For the reconciliation of Adjusted EPS to GAAP EPS, the item “Dilutive income and share basis difference - GAAP vs. Adjusted” represents the impact of the adjustments from a net loss to net income position, which required an adjustment for the interest expense associated with the convertible debt and a change in the dilutive shares outstanding to reflect additional dilutive shares associated with restricted stock units, convertible debt and the accelerated share repurchase agreement that were considered anti-dilutive on a GAAP basis. The diluted weighted average common shares used in the above calculation was 56,313.

			Three Months Ended September 30, 2025
			Income (loss) from operations before income taxes						Income tax (expense) benefit						Less: Net (income) loss attributable to noncontrolling interests						Net income (loss) attributable to AMC Global Media's stockholders						Diluted EPS attributable to AMC Global Media's stockholders
Reported Results (GAAP) (1)			$	124,373					$	(43,146)					$	(3,552)					$	77,675					$	1.38
Adjustments:
Amortization of acquisition-related intangible assets			7,582						(1,727)						(359)						5,496						0.10
Restructuring and other related charges			4,479						(1,075)						(318)						3,086						0.05
Impairment and other charges			—						—						—						—						—
(Gain) loss on extinguishment of debt, net			(105,316)						22,704						—						(82,612)						(1.47)
Tax reform (2)			—						6,716						—						6,716						0.12
Adjusted Results (Non-GAAP)			$	31,118					$	(16,528)					$	(4,229)					$	10,361					$	0.18

(1) Includes the required adjustment for interest expense associated with the convertible debt.

(2) Represents a timing adjustment between current and deferred tax expense as a result of tax reform that reversed in the fourth quarter of 2025.

11

AMC GLOBAL MEDIA INC.

SUPPLEMENTAL FINANCIAL DATA

(in thousands, except per share amounts)

(unaudited)

Adjusted Earnings (Loss) Per Share
			Nine Months Ended September 30, 2026
			Income (loss) from operations before income taxes						Income tax (expense) benefit						Less: Net (income) loss attributable to noncontrolling interests						Net income (loss) attributable to AMC Global Media's stockholders						Diluted EPS attributable to AMC Global Media's stockholders
Reported Results (GAAP)			$	(131,032)					$	48,069					$	(5,236)					$	(88,199)					$	(2.06)
Adjustments:
Amortization of acquisition-related intangible assets			22,790						(5,172)						—						17,618						0.41
Restructuring and other related charges			7,886						(1,831)						—						6,055						0.14
Impairment and other charges			81,280						(17,595)						—						63,685						1.49
(Gain) loss on extinguishment of debt, net			3,784						(746)						—						3,038						0.07
Debt modification expenses			16,665						(3,933)						—						12,732						0.3
Dilutive income and share basis difference - GAAP vs. Adjusted (1)			4,582						(1,100)						—						3,482						(0.02)
Adjusted Results (Non-GAAP)			$	5,955					$	17,692					$	(5,236)					$	18,411					$	0.33

(1) For the reconciliation of Adjusted EPS to GAAP EPS, the item “Dilutive income and share basis difference - GAAP vs. Adjusted” represents the impact of the adjustments from a net loss to net income position, which required an adjustment for the interest expense associated with the convertible debt and a change in the dilutive shares outstanding to reflect additional dilutive shares associated with restricted stock units, convertible debt and the accelerated share repurchase agreement that were considered anti-dilutive on a GAAP basis. The diluted weighted average common shares used in the above calculation was 56,407.

			Nine Months Ended September 30, 2025
			Income (loss) from operations before income taxes						Income tax (expense) benefit						Less: Net (income) loss attributable to noncontrolling interests						Net income (loss) attributable to AMC Global Media's stockholders						Diluted EPS attributable to AMC Global Media's stockholders
Reported Results (GAAP) (1)			$	233,314					$	(74,937)					$	(10,073)					$	148,304					$	2.63
Adjustments:
Amortization of acquisition-related intangible assets			23,372						(5,423)						(1,076)						16,873						0.30
Restructuring and other related charges			12,797						(1,953)						(1,359)						9,485						0.16
Impairment and other charges			—						—						—						—						—
(Gain) loss on extinguishment of debt, net			(131,061)						28,361						—						(102,700)						(1.82)
Tax reform (2)			—						6,716						—						6,716						0.12
Adjusted Results (Non-GAAP)			$	138,422					$	(47,236)					$	(12,508)					$	78,678					$	1.39

(1) Includes the required adjustment for interest expense associated with the convertible debt.

(2) Represented a timing adjustment between current and deferred tax expense as a result of tax reform that reversed in the fourth quarter of 2025.

12

Filing Exhibits & Attachments

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Press Releases

• EX-99.1 EX-99.1 455.3 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 21.4 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.2 KB