UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 7, 2016 (March 4, 2016)
AMC Networks Inc.
(Exact name of registrant as specified in its charter)
Delaware | 1-35106 | 27-5403694 | ||
(State or other jurisdiction of incorporation) | (Commission file number) | (I.R.S. Employer Identification No.) | ||
11 Penn Plaza, New York, NY | 10001 | |||
(Address of principal executive offices) | (Zip Code) | |||
(212) 324-8500
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
r | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
r | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
r | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
r | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 Other Events
On March 4, 2016, the Board of Directors of AMC Networks Inc. (the "Company") approved a program to repurchase up to $500 million of the Company's outstanding shares of common stock subject to the terms and conditions announced in a press release dated March 7, 2016, which is attached as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following Exhibit is furnished as part of this Report on Form 8-K:
Exhibit Number | Item | |
99.1 | Press Release dated March 7, 2016, announcing the Company's share repurchase program. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
AMC Networks Inc. | ||||
Date: | March 7, 2016 | By: | /s/ Sean S. Sullivan | |
Sean S. Sullivan | ||||
Executive Vice President and Chief Financial Officer | ||||
Exhibit 99.1
AMC NETWORKS INC. ANNOUNCES
$500 MILLION STOCK REPURCHASE PROGRAM
New York, NY - March 7, 2016: AMC Networks Inc. (“AMC Networks” or the “Company”) (NASDAQ: AMCX) today announced that its board of directors has authorized a program to repurchase up to $500 million of its outstanding shares of common stock.
President and Chief Executive Officer Josh Sapan said: “Today’s announcement reflects our belief that our shares represent an attractive investment opportunity, our confidence in the future of our business and our commitment to enhancing long-term shareholder value. We believe this stock repurchase program provides us with additional flexibility for capital allocation while preserving our strong balance sheet and allows us to continue to pursue growth opportunities.”
The company will determine the timing and the amount of any repurchases based on its evaluation of market conditions, share price, and other factors.
The stock repurchase program has no pre-established closing date and may be suspended or discontinued at any time.
About AMC Networks Inc.
Dedicated to producing quality programming and content for more than 30 years, AMC Networks Inc. owns and operates several of the most popular and award-winning brands in cable television. AMC, IFC, SundanceTV, WE tv, and IFC Films produce and deliver distinctive, compelling and culturally relevant content that engages audiences across multiple platforms. The company also operates BBC America through a joint venture with BBC Worldwide. In addition, the company operates AMC Networks International, its global division. For more information, please visit www.amcnetworks.com.
Contacts:
Seth Zaslow
Investor Relations
646-273-3766
seth.zaslow@amcnetworks.com
Georgia Juvelis
Corporate Communications
917-542-6390
georgia.juvelis@amcnetworks.com
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