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NEW YORK - AMC Networks Inc. (NASDAQ:AMCX), a media company with a market capitalization of $278 million and current ratio of 2.26, announced Tuesday it intends to offer $400 million in senior secured notes due 2032, subject to market conditions and other factors. According to InvestingPro data, the company maintains strong liquidity with assets exceeding short-term obligations.
The offering will be made through a private placement to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act, according to a company press release.
The notes will be guaranteed by AMC Networks’ existing and future domestic subsidiaries on a senior secured basis, with certain exceptions. The company plans to use the proceeds, along with available cash, to fund a tender offer for up to $450 million of its outstanding 4.25% Senior Notes due 2029, pay related fees and expenses, and repurchase or repay other corporate debt.
The notes have not been registered under the Securities Act and cannot be offered or sold within the United States without an applicable exemption from registration requirements.
AMC Networks operates several streaming services including AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK and HIDIVE, as well as cable networks AMC, BBC AMERICA, IFC, SundanceTV and We TV. The company also runs AMC Studios, which produces original content including The Walking Dead Universe and the Anne Rice Immortal Universe.
The company noted that statements regarding the timing and completion of the notes offering and tender offer are forward-looking and subject to various risks and uncertainties.
In other recent news, AMC Networks Inc. reported its financial results for the first quarter of 2025, revealing a miss on both earnings and revenue forecasts. The company reported revenue of $555 million, a 7% decrease year-over-year, and earnings per share (EPS) of $0.52, which fell short of the forecasted $0.79. This shortfall reflects ongoing challenges in the linear TV market and pressures in the digital advertising space. Despite these hurdles, AMC Networks continues to focus on expanding its streaming services and content offerings. In another development, AMC Networks has officially changed its corporate domicile from Delaware to Nevada, as approved by stockholders during their annual meeting. This transition is part of a broader strategic move to align its operational and legal frameworks with its strategic goals. Additionally, stockholders voted on several proposals, including the election of directors and the ratification of KPMG LLP as the independent auditor for the 2025 fiscal year. The company maintains a revenue outlook of approximately $2.3 billion for 2025, with expectations for streaming revenue growth to accelerate.
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