AMC Networks Inc, a U.S. media company that owns cable channels, is in talks to purchase a stake in BBC America, BBC Worldwide's U.S. channel, a source familiar with the matter told Reuters.BBC Worldwide would retain a small majority of BBC America if a deal with AMC goes through, the source said.Bloomberg reported that AMC will take a stake of about 50 percent in BBC America. (bloom.bg/1zwBh7g)BBC Worldwide, the commercial arm of Britain's public broadcaster, is interested in a partnership to use AMC's advertising sales and distribution network, said Bloomberg, citing people with knowledge of the matter.
AMC Networks Inc. (AMC Networks) is a holding company and conducts substantially all of its operations through its subsidiaries. Shares of AMCX fell by 0.44% or $-0.27/share to $61.06. In the past year, the shares have traded as low as $53.99 and as high as $78.39. On average, 1065030 shares of AMCX exchange hands on a given day and today's volume is recorded at 453719.
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