AMC Networks Takes 49.9 Percent Stake in BBC America

NEW YORK/LONDON: As part of a wide-ranging partnership between AMC Networks and BBC Worldwide, AMC Networks is acquiring a 49.9 percent stake in BBC America.

The two companies have struck a long-term creative partnership agreement. Under the terms of the pact, AMC Networks is investing $200 million for the equity stake in the cable channel, which is home to hits such as Doctor Who and Orphan Black. The deal is structured as a long-term equity joint venture, with BBC Worldwide retaining 50.1 percent. AMC Networks will then have operational control of BBC America, including affiliate and ad sales.

BBC America will be managed as a standalone channel within the AMC Networks portfolio, which already includes AMC, IFC, WE tv and SundanceTV, as well as AMC Networks International.

Also included in the pact is representation of BBC World News in U.S. distribution and domestic advertising sales.

"The BBC is one of the most recognized, trusted and respected brands in the world and we are proud to partner with it to create a content offering unmatched in the industry. I have great respect for what Herb Scannell and his team 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 powerful collection of networks that are among the most critically acclaimed, with distinct dramas and other potent content that creates a deep connection with viewers. Our content rises to the top on many levels and is particularly well-suited to an era of on-demand viewing and expanding consumer choice."

Tony Hall, BBC's director-general and chairman of BBC Worldwide, added: "The U.S. is an important market for the BBC's commercial activities. This partnership brings together the whole BBC and will help us reach new audiences in the U.S., strengthen BBC America's position for the long term and create opportunities for the U.K. creative community. We've already worked successfully with AMC Networks on award-winning productions of Top of the Lake and The Honourable Woman and this partnership means we can produce even more top-quality drama together. And I hope this is the beginning of us working together on other future projects, too."

Ed Carroll, AMC Networks' COO, said: "Orphan Black and Doctor Who are just two examples of bold and original BBC America content that creates passionate viewers and fits well alongside AMC Networks shows such as Mad Men, Portlandia and Rectify."

Tim Davie, the CEO of BBC Worldwide and director of global, said: "AMC Networks is the ideal partner for BBC Worldwide. Like us, they are committed to the kind of high-quality, unmissable content that has already gained BBC America one of the most educated, affluent and tech-savvy audiences in all of U.S. television, with a powerful social media following. BBC America is a unique and upscale asset, with eight straight years of ratings growth behind it. By creating a stronger force with shared creative sensibilities, this partnership secures the continuation of that growth into the future."