Sept 4 (Reuters) - Charter Communications ( CHTR ) and
AMC Networks ( AMCX ) on Wednesday said they have agreed to an
early renewal of a distribution agreement, allowing Charter to
carry AMC's portfolio of linear cable networks for multiple
years.
The ad-supported version of AMC's streaming service, AMC+,
will be included at no additional cost to Charter's Spectrum TV
Select customers, the companies said in a statement.
The financial terms and exact duration of the agreement
were not disclosed.
Charter will also make AMC+ available for purchase to its
millions of internet-only customers.
"With the addition of AMC+, Charter, through its programming
deals, will be providing its Spectrum TV Select Plus customers
more than $40/month in retail value for streaming apps and over
$30/month in retail value for Spectrum TV Select/Select
Signature customers," the statement said.
The renewed agreement follows a template set by Charter's
agreement with Disney ( DIS ) last year, where the company
negotiated for a slimmer programming package and secured rights
to distribute Disney+, Hulu, and ESPN+ to its Spectrum TV
customers.
With the agreement, Spectrum video customers will
continue to have access to AMC Networks' ( AMCX ) portfolio, including
BBC America, SundanceTV and popular shows like The Walking Dead
and Interview with the Vampire.
The deal comes on the heels of Disney ( DIS ) and DirecTV
failing
to reach a new distribution deal, resulting in more than 11
million DirecTV subscribers losing access to ESPN ( DIS ), ABC, and
other Disney ( DIS )-owned networks.