AMC Networks successfully completed a consent solicitation for its 10.50% Senior Secured Notes due 2032, receiving approval from 99.8% of noteholders. The amendments permit up to $50 million in equity buybacks, restrict trademark transfers to non-exclusive licenses, and limit certain subsidiary investments. The company will pay $2 million in consent fees ($5.01 per $1,000 principal) on March 10, 2026.

AMC Networks announced strong early participation in its exchange offer to swap $830.6 million (95%) of its outstanding 10.25% Senior Secured Notes due 2029 for newly-issued 10.50% Senior Secured Notes due 2032. The company also secured requisite consents to amend the indenture, permitting up to $50 million in equity buybacks. Settlement is expected on March 13, 2026, with a final deadline of March 23, 2026 for remaining holders.

AMC Networks announced an exchange offer to swap $875 million of its 10.25% Senior Secured Notes due 2029 for newly-issued 10.50% Senior Secured Notes due 2032. The exchange offer runs through March 23, 2026, with early tender incentives. Concurrently, the company is soliciting consents to amend covenants to permit up to $50 million in equity buybacks, aligning terms with its credit agreement.

AMC Networks received requisite consents from holders of its 10.50% Senior Secured Notes due 2032 to approve amendments allowing up to $50 million in equity buybacks, restricting trademark transfers to non-exclusive licenses, and limiting investments in unrestricted subsidiaries. With 94% of noteholders consenting, the company extended the consent solicitation deadline to March 6, 2026.

AMC Networks Inc. has priced a private offering of $400 million in senior secured notes due 2032. The company plans to use the proceeds to fund a tender offer for its existing 4.25% Senior Notes due 2029 and repay other corporate debt.

Kirby McInerney LLP is investigating potential claims against AMC Networks Inc. (AMCX) after the company reported a significant net loss, decline in free cash flow, and increase in operating loss for the fourth quarter of 2024.

AMC Networks Inc. (NASDAQ: AMCX) will host a conference call on February 14, 2025, to discuss its financial results for the fourth quarter and full year 2024. The company will issue a press release before the market opens on the same day.

Lumen stock posted a 10.1% gain on Thursday after an investor named Daniel Hagan disclosed a large 5.4% stake in the company. The news of a major investor buying up shares helped spur bullish momentum, though Lumen still faces challenges like a large debt problem.

AMC Networks reported revenue of $625.93 million, down 7.8% year-over-year, and EPS of $1.24, compared to $2.02 in the prior-year quarter. The company's revenue beat the Zacks Consensus Estimate, but EPS missed it.

Companies in The news Are: ADSK,AMCX,META,AMZN

NEW YORK, June 17, 2024 (GLOBE NEWSWIRE) -- AMC Networks Inc. (Nasdaq: AMCX) (the “Company” or “AMC Networks”) today announced the pricing of $125 million aggregate principal amount of 4.25% convertible senior notes due 2029 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). In connection with the offering of the notes, the Company has granted the initial purchasers an option to purchase, for settlement within a 13-day period beginning on, and including, the first day on which the notes are issued, up to an additional $18.75 million aggregate principal amount of the notes. The offering of the notes is expected to close on June 21, 2024, subject to satisfaction of customary closing conditions.

NEW YORK, June 17, 2024 (GLOBE NEWSWIRE) -- AMC Networks Inc. (Nasdaq: AMCX) (the “Company” or “AMC Networks”) today announced that it intends to offer, subject to market conditions and other factors, $125 million aggregate principal amount of convertible senior notes due 2029 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). In connection with the offering of the notes, AMC Networks expects to grant the initial purchasers an option to purchase, for settlement within a 13-day period beginning on, and including, the first day on which the notes are issued, up to an additional $18.75 million aggregate principal amount of the notes.