Business · Companies · 9 hrs ago

AMC Global Media Posts Higher Earnings but Misses Q3 Revenue Forecast

AMC Global Media Posts Higher Earnings but Misses Q3 Revenue Forecast

AMC Global Media missed analysts’ revenue forecast for the third quarter, reporting $566.1 million, less than 1% more than a year earlier.

Its adjusted earnings were 44 cents per share, well above expectations of a loss of 1 cent.

A $120 million settlement resolved contract claims brought by Robert Kirkman and other stakeholders over The Walking Dead; AMC recorded an $85 million charge related to it in the quarter.

The settlement came shortly before a trial was due to begin.

The Walking Dead will be available on AMC+ under a broader licensing deal with Netflix, though no debut date was given.

AMC says the streaming service will offer the original series, its spinoffs and extra behind-the-scenes and studio content.

AMC plans to keep the franchise active well into the future, but executives did not give details of what comes next.

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What people are saying

Kristin DolanCEO of AMC Global Media
quite diligent and careful
via Deadline
closely associated with AMC
via Deadline
Dan McDermottContent chief at AMC Global Media
well into the future
via Deadline