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Thursday, October 23, 2014

AMC buys 49.9 percent stake in BBC America, (NASDAQ: AMCX)

Cable TV network AMC Networks Inc said on Thursday it had agreed to purchase a 49.9 percent stake BBC America for $200 million and would take operational control of the channel. BBC Worldwide North America will continue as a wholly owned regional business within BBC Worldwide, the commercial arm of the British Broadcasting Corporation.

AMC Networks Inc. (AMC Networks) is a holding company and conducts substantially all of its operations through its subsidiaries. Shares of AMCX fell by 0.49% or $-0.29/share to $58.44. In the past year, the shares have traded as low as $52.73 and as high as $78.39. On average, 662620 shares of AMCX exchange hands on a given day and today's volume is recorded at 882647.