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AMC Networks Inc. (NASDAQ:AMCX) reported that it received a notice from The Nasdaq Stock Market LLC on Thursday acknowledging that the company is no longer in compliance with Nasdaq Listing Rule 5605(c)(2)(A). The rule requires a public company’s audit committee to have at least three independent directors.
The notice follows the passing of Dr. Leonard Tow, an independent director and one of the three members of AMC Networks’ audit committee, on Sunday. Dr. Tow had served as a director since 2011.
On Tuesday, AMC Networks notified Nasdaq of the vacancy and stated that it was relying on the cure provision in Nasdaq Listing Rule 5605(c)(4)(B). According to the company’s statement, the board intends to appoint an existing board member to the audit committee at its next meeting.
Nasdaq’s letter states that AMC Networks has a cure period to regain compliance, which will expire at the earlier of the company’s next annual shareholders’ meeting or August 10, 2026. If the next annual meeting is held before February 6, 2026, the company must demonstrate compliance by that date.
AMC Networks stated it intends to comply with the audit committee composition requirements within the permitted timeframe.
This information is based on a press release statement contained in an SEC filing.
In other recent news, AMC Networks Inc. reported its second-quarter 2025 earnings, revealing an adjusted earnings per share (EPS) of $0.69. This figure surpassed analysts’ expectations, which were set at $0.5647, by 22.19%. The company’s revenue for the quarter was $600 million, slightly exceeding the anticipated $582.05 million. These results highlight AMC Networks’ stronger-than-expected financial performance. Additionally, the earnings release was followed by a significant surge in the company’s stock price, reflecting positive investor sentiment. Analysts from various firms had been closely monitoring AMC Networks’ financial results, and the company’s ability to exceed projections has been noted. These recent developments provide insight into AMC Networks’ current financial standing.
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