AMC Networks is making a $65 million investment in BET founder Robert Johnson’s RLJ Entertainment to help RLJ build out its streaming services.
AMC is making loans to the company, which owns and operates Acorn TV, a streaming service for British mysteries and dramas, and UMC (Urban Movie Channel). AMC also gets warrants, which entitle AMC to 50.1% of RLJ Entertainment’s outstanding common stock.
AMC Networks’ support and investment will accelerate the distribution and development of diverse content and independent films from RLJ Entertainment across multiple platforms, including its direct-to-consumer streaming video-on-demand channels, the companies said.
By aligning Acorn TV and UMC with AMC Networks and its channels and film business — including BBC America, WE tv and IFC Films — Acorn TV and UMC will have the potential to cross-promote, develop and distribute content, ultimately reaching more viewers of British television dramas, urban content and independent film, they added.
Read more at broadcastingcable.com.