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Stock impact report

AMC Networks Says Restructuring Charges Could Hit $475 Million [BNN Bloomberg (Canada)]

AMC Networks Inc. - Class A (AMCX) 
Last amc networks inc. - class a earnings: 2/26 07:00 am Check Earnings Report
Company Research Source: BNN Bloomberg
million in pretax restructuring charges over the next year, as the company looks to better position itself in the current TV climate. The charges include as much as $75 million in employee severance, retention and other costs, and $400 million in content expenses, according to a filing Thursday. The company said earlier this week that cost savings were necessary as its traditional TV networks lose viewers to new online TV options. Its chief executive officer, Christina Spade, also stepped down. AMC is evaluating its programming lineup with an eye toward taking some legacy TV series and films out of rotation, it said in the filing. Read more: AMC Networks to Cut 20% of US Staff as CEO Abruptly Departs Cash expenses associated with the restructuring are estimated to be between $75 million and $100 million. It expects the reorganization to be completed by the end of next year. AMC, home to the BBC America, Sundance and IFC channels, as well as its namesake network, this month r Show less Read more
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