AMC offers $16m for RLJ control

AMC Networks has revealed a US$16m deal to take control of RLJ Entertainment, the US company behind streaming services Acorn TV and Urban Movie Channel.

The US cable firm already owns 26% of RLJ and in October 2016 extended a strategic partnership that saw it loan US$65m to the company. That has since increased to US$78m.

This latest proposal would see AMC pay US$4.25 per share to acquire the remaining 27% of shares not owned by RLJ owner Robert Johnson, who founded the company in 2012 and was also behind the launch of US network BET.

The deal values RLJ at around US$60m, with an “independent committee” formed by RLJ now evaluating the proposal.

RLJ is behind UK drama SVoD service Acorn TV, which has coproduced numerous scripted series through its Acorn Media Enterprises division and offers shows such as Agatha Christie adaptation And Then There Were None. RLJ owns 64% of Agatha Christie Ltd.

Earlier this year Acorn, ordered its first series by reviving Agatha Raisin, a comedy that had started out on European pay operator Sky.

RLJ said Acorn and UMC had in excess of 700,000 subscribers in January, up 55% on the same time last year.

AMC, meanwhile, operates its eponymous cablenet and SundanceTV, as well as SVoD services such as Shudder. It also has a controlling stake in BBC America and took a stake in comedy video portal Funny or Die last year.