The Cold War Ends: AMC and Dish Reach Settlement

For Dish subscribers, it’s been a rather annoying few months. Because of their cable company’s war with AMC, they’ve been without access to Breaking Bad, The Walking Dead and the rest of AMC’s fine programming.

After all this time, it’s still easy to play the blame game. Was Dish being cheap not wanting to shell out to keep AMC on their lineup? Or was AMC being greedy demanding too much to air their programming? Either way, consumers lost.

Now, however, at long last an agreement has been reached with the two parties, to the sum of $700 million. It’s a multi-year agreement that ensures this drama won’t happen again for a long while, and by the time it does? TV just may be obsolete all together.

Read the full press briefing below from AMC:

 “Cablevision Systems Corporation (NYSE: CVC) and AMC Networks (NASDAQ: AMCX) today announced that they have settled their litigation with DISH Network LLC (NASDAQ: DISH) related to VOOM HD Holdings LLC. The lawsuit, VOOM HD Holdings LLC v. EchoStar Satellite LLC, was filed in the Supreme Court of the State of New York, County of New York.

The settlement agreements include the following components:

DISH Network pays a cash settlement of $700 million to Cablevision and AMC Networks, $80 million of which is in consideration for the purchase of Cablevision’s multichannel video and data distribution service (MVDDS) licenses in 45 metropolitan areas in the U.S.;

DISH Network enters into a long-term distribution agreement with AMC Networks to carry AMC, IFC, Sundance Channel and WE tv, and with The Madison Square Garden Company to carry Fuse on its satellite service; and

DISH also conveys its 20-percent membership interest in VOOM HD to Rainbow Programming Holdings LLC, such that all of the cash settlement remains with Cablevision and AMC Networks.

Promptly after payment of the cash settlement is received, the parties will file a joint stipulation to dismiss the lawsuit with prejudice. The allocation of the settlement proceeds between Cablevision and AMC Networks will be determined pursuant to the existing agreement relating to this litigation between the two companies.

Said Josh Sapan, President and CEO, AMC Networks: “We are glad to partner again with DISH Network and are delighted to bring back our popular channels and programming to their customers.”

 


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