Charter and AMC ink early renewal deal, providing cable subscribers free access to AMC+

AMC Global Media

04/09/2024 20:40

Sept 4 (Reuters) - Charter Communications  CHTR.O  and
AMC Networks  AMCX.O  on Wednesday said they have agreed to an
early renewal of a distribution agreement, allowing Charter to
carry AMC's portfolio of linear cable networks for multiple
years. 
    The ad-supported version of AMC's streaming service, AMC+,
will be included at no additional cost to Charter's Spectrum TV
Select customers, the companies said in a statement. 
        The financial terms and exact duration of the agreement
were not disclosed.
  
    Charter will also make AMC+ available for purchase to its
millions of internet-only customers.
    "With the addition of AMC+, Charter, through its programming
deals, will be providing its Spectrum TV Select Plus customers
more than $40/month in retail value for streaming apps and over
$30/month in retail value for Spectrum TV Select/Select
Signature customers," the statement said. 
    The renewed agreement follows a template set by Charter's
agreement with Disney  DIS.N  last year, where the company
negotiated for a slimmer programming package and secured rights
to distribute Disney+, Hulu, and ESPN+ to its Spectrum TV
customers.
        With the agreement, Spectrum video customers will
continue to have access to AMC Networks' portfolio, including
BBC America, SundanceTV and popular shows like The Walking Dead
and Interview with the Vampire.
  
        The deal comes on the heels of Disney and DirecTV 
    failing
     to reach a new distribution deal, resulting in more than 11
million DirecTV subscribers losing access to ESPN, ABC, and
other Disney-owned networks.
  


 (Reporting by Juby Babu in Mexico City; Editing by Tasim Zahid)
 ((Juby.Babu@thomsonreuters.com;))