AMC Networks And BBC Worldwide Enter Partnership; BBC Worldwide Retains 50.1% Stake In BBC America

AMC Networks Inc.(Nasdaq: AMCX), the global entertainment company behind acclaimed series TheWalking Dead, Mad Men, and Rectify, and BBC Worldwide, the commercial arm ofthe British Broadcasting Corporation, today announced a new long-term creativepartnership bringing together two global brands that are behind some of themost-watched, most celebrated programming on television.Under the terms of the partnership agreement, AMC Networks is investing $200Mto acquire a 49.9% equity stake in the cable channel BBC AMERICA, home of hitdrama series Doctor Who and Orphan Black. The agreement is structured as along-term equity joint venture, with BBC Worldwide retaining 50.1%. AMCNetworks will have operational control of BBC AMERICA, including affiliate andadvertising sales, will run it consistent with BBC's editorial standards andpolicies, and will consolidate the results of the joint venture in itsfinancial statements.Available in almost 80 million homes in the U.S., BBC AMERICA is celebratedfor its award-winning programming, including the iconic Doctor Who, dramasOrphan Black, Luther and Broadchurch, Top Gear, the world's most popular carshow, as well as the BBC's world-renowned landmark natural history series fromthe makers of Planet Earth. Its programs have been honored with hundreds ofawards including four Emmy® Awards, five Golden Globes® and 12 Peabody Awards.With more scripted originals than any other ad-supported cable channel, BBCAMERICA was the most critically acclaimed channel on ad-supported televisionin 2013 (source: Metacritic.com 2013).BBC AMERICA will be managed as a standalone channel within the AMC Networksportfolio, which includes AMC, IFC, WE tv, and SundanceTV, as well as AMCNetworks International, a collection of more than 60 channels distributedworldwide. The partnership builds on a history of close creative collaborationbetween the BBC and AMC Networks, which has already resulted in theaward-winning drama series Top of the Lake, the acclaimed drama The HonourableWoman and the upcoming One Child. As part of the agreement, AMC Networks andBBC Television have agreed to continue to jointly pursue a number of contentinvestment opportunities on a range of future projects, both through BBCAMERICA and other AMC Networks channels.Also included in the partnership is representation of BBC World News in U.S.distribution and domestic advertising sales. Available in over 30 millionhomes in the U.S., the channel is owned and editorially controlled by BBCGlobal News Ltd, has journalists in more countries than any otherinternational news broadcaster and is the leader in global breaking news. BBCWorld News has received a host of honors including four Emmy® Awards and fourPeabody Awards, reflecting its outstanding coverage of world affairs."The BBC is one of the most recognized, trusted and respected brands in theworld and we are proud to partner with it to create a content offeringunmatched in the industry. I have great respect for what Herb Scannell and histeam have achieved over the past four years, elevating BBC AMERICA's profile,performance and productions," said Josh Sapan, AMC Networks President and CEO."A combined AMC Networks-BBC AMERICA channel group creates a powerfulcollection of networks that are among the most critically-acclaimed, withdistinct dramas and other potent content that creates a deep connection withviewers. Our content rises to the top on many levels and is particularlywell-suited to an era of on-demand viewing and expanding consumer choice."Tony Hall, BBC Director-General and Chairman of BBC Worldwide, added: "TheU.S. is an important market for the BBC's commercial activities. Thispartnership brings together the whole BBC and will help us reach new audiencesin the U.S., strengthen BBC AMERICA's position for the long term and createopportunities for the UK creative community. We've already worked successfullywith AMC Networks on award-winning productions of Top of the Lake and theHonourable Woman and this partnership means we can produce even more topquality drama together. And I hope this is the beginning of us workingtogether on other future projects too."Ed Carroll, AMC Networks COO, said: "Orphan Black and Doctor Who are just twoexamples of bold and original BBC AMERICA content that creates passionateviewers and fits well alongside AMC Networks shows such as Mad Men, Portlandiaand Rectify."Tim Davie, CEO, BBC Worldwide and Director, Global, said: "AMC Networks is theideal partner for BBC Worldwide. Like us, they are committed to the kind ofhigh-quality, unmissable content that has already gained BBC AMERICA one ofthe most educated, affluent and tech savvy audiences in all of U.S.television, with a powerful social media following. BBC AMERICA is a uniqueand upscale asset, with eight straight years of ratings growth behind it. Bycreating a stronger force with shared creative sensibilities, this partnershipsecures the continuation of that growth into the future."Following completion, BBC Worldwide North America will continue as a whollyowned regional business within BBC Worldwide, focused on program and formatsales and co-production relationships, scripted and unscripted production,consumer products, digital and live events.