AMC Global Media Inc. Class A (AMCX)

In the past six months, AMC Global Media Inc. reported mixed first-quarter 2026 earnings with an EPS miss but revenue exceeding expectations, while reiterating its full-year guidance. The company completed an exchange offer, issuing new senior secured notes to extend debt maturities and announced plans for a share repurchase. The company reported declines in U.S. advertising and affiliate revenue offset by streaming revenue growth in its third-quarter 2025 earnings report and repurchased shares during Q4 2025.

Specific seasonal fluctuations in demand were not detailed, but the company is experiencing a shift from linear TV to streaming services. Affiliate revenue from linear TV is declining, while streaming revenue is growing. The company anticipates an improvement in the rate of affiliate revenue decline in the second half of 2026 due to new agreements and contractual changes.

AMC Global Media Inc. owns and operates a diverse portfolio of video entertainment products across various platforms, including national programming networks like AMC and a suite of subscription streaming services such as AMC+. The company is also involved in content production through AMC Studios and film distribution via IFC Films, and is known for critically acclaimed series.

The company operates through Domestic Operations and International and Other segments, with international programming businesses managed under AMC Networks International (AMCNI). Domestic operations account for nearly 90% of the company's total revenue following an international divestiture at the end of 2023.

In the past year, AMC Global Media Inc. has focused on streaming, with streaming revenue becoming its largest source of domestic revenue. The company reported an impairment charge on its U.S. cable networks, highlighting challenges in traditional linear TV. The company changed its corporate name to AMC Global Media Inc. to align its brand with its evolving media footprint.

The Dolan family group maintains effective majority voting control of AMC Global Media Inc. through their ownership of all outstanding Class B shares. Major institutional shareholders include BlackRock, Inc., The Vanguard Group, Inc., Charles Schwab Investment Management, Inc., JPMorgan Chase & Co., Marshall Wace LLP, D. E. Shaw & Co., Inc., and Dimensional Fund Advisors LP.