AMC Networks Reaches Carriage Deal With Verizon FiOS
AMC Networks Earnings Grew In Q3, But Not As Much As Wall Street Expected
Looks like AMC Networks’ warning to Verizon FiOS‘ 4.6M subscribers that they were “about to lose” channels including AMC, IFC, and WE tv was all for naught. The companies announced they have a pact to keep the channels on the phone giant’s video system past the end of December, when the current contract expires. While the companies didn’t disclose specific terms, AMC says that it’s a “long-term agreement” that “recognizes the value of our networks.” Susquehanna Financial Group’s Vasily Karasyov predicts the programmer will see a 6% increase in the fees it collects from Verizon, but says we should know the answer next year when AMC reports its Q1 earnings. A few weeks ago, Verizon chastized AMC for trying to “scare” FiOS customers adding that it has “a history of using their viewers as pawns in their negotiations with distributors.” Dish Network recently resumed carriage of AMC’s networks after dropping them in June while the companies were engaged in a legal battle.