November 1, 2018
AMC Networks Nov. 1 announced it completed the acquisition of home entertainment distributor RLJ Entertainment, after the latter’s stockholders approved the transaction at a special meeting on Oct. 31.
AMC Networks acquired all of the shares of common stock of RLJE not owned by founder and namesake Robert L. Johnson, for about $59 million in cash. RLJ Entertainment is now a privately-owned subsidiary of AMC Networks, with Johnson and his affiliates owning a stake of 17%.
RLJE operates two subscription streaming services with about 1 million combined subscribers: Acorn TV, known for its British and international mysteries and dramas; and UMC, which offers films, documentaries, original series and comedy for African-American and urban audiences.
The growth of Acorn TV has been driven by the current release of “A Place to Call Home.” Other pending original programs include, “Agatha Raisin,” “Queens of Mystery” and “London Kills.” UMC original series include “Monogamy” and “5th Ward.” Recent releases from RLJE Films include Mandy, Arizona and Galveston.
“Our businesses each serve unique audiences and have a strong connection to their viewers,” Miguel Penella, CEO of RLJ Entertainment, said in a statement. “”AMC Networks has been an ideal partner as we developed Acorn TV and UMC for their respective audiences.”
In addition, RLJE owns a majority stake in Agatha Christie Ltd., a popular IP franchise. Last year’s 20st Century Fox Kenneth Branagh-directed adaptation of Murder on the Orient Expressgrossed more than $350 million in worldwide box office. It sold more than $9 million in combined DVD/Blu-ray Disc units from 20thCentury Fox Home Entertainment.
Forthcoming adaptations include Fox’s Death on the Nilesequel as well as the BBC’s recent multi-show deal with Agatha Christie Productions for seven dramas based on the author’s works.
“This acquisition furthers AMC Networks’ direct-to-consumer strategy and accelerates our interests in subscription video-on-demand services that we own and control,” said Josh Sapan, CEO of AMC Networks.