AMC Networks completes consent solicitation for senior notes amendments

AMC Networks Inc. (NASDAQ: AMCX) announced that its consent solicitation for amendments to its 10.50% Senior Secured Notes due 2032 expired March 6, 2026, with approximately 99.8% of noteholders approving the proposed changes.

The amendments permit the company to conduct up to $50 million in equity buybacks, modify trademark transfer restrictions to allow only non-exclusive licenses to unrestricted subsidiaries, and limit certain investment activities. The consent solicitation received approval from holders of more than the required majority of outstanding notes on February 23, 2026.

AMC Networks entered into a supplemental indenture February 23, 2026, to implement the amendments, which will become operative once the company pays consent fees to participating noteholders. The company expects to distribute approximately $2 million in total consent fees, equivalent to about $5.01 per $1,000 principal amount of notes, around March 10, 2026.

The amendments modify covenant restrictions in the indenture governing the notes. The restricted payments covenant will allow equity repurchases within the specified dollar limit, while trademark licensing provisions will be tightened to prevent exclusive transfers to unrestricted subsidiaries.

D.F. King & Co., Inc. served as the information and tabulation agent for the solicitation, while J.P. Morgan Securities LLC acted as the solicitation agent. The consent solicitation excluded notes beneficially owned by AMC Networks or its affiliates from the voting calculation.

AMC Networks operates cable networks including AMC, BBC America, and IFC, along with streaming services AMC+, Acorn TV, and Shudder. The company also runs AMC Studios, which produces content including The Walking Dead franchise.

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