AMC Networks (AMCX)
Runs cable networks and streaming brands built around the Walking Dead franchise and prestige drama heritage.
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Operates a group of linear cable networks — AMC, We TV, BBC America, IFC, SundanceTV — alongside targeted subscription streaming services including AMC+, Shudder, Acorn TV, Sundance Now, ALLBLK, HIDIVE and All Reality, produced through AMC Studios. Streaming has become the largest single source of domestic revenue as the linear affiliate-fee base shrinks with cord-cutting.
Programs linear cable networks led by AMC, alongside a set of subscription streaming brands — AMC+, Shudder, Acorn TV, ALLBLK, HIDIVE among others — each built around a specific genre or audience rather than general entertainment. AMC Studios produces most of the underlying content.
The approach traces back to a run of prestige dramas — Mad Men, Breaking Bad, The Walking Dead, Better Call Saul — that turned a classic-film channel into a scripted-television destination and still anchor licensing revenue and streaming demand.
Most revenue comes from the US; a smaller international channel business reaches audiences in Europe and Latin America. The linear affiliate-fee base keeps shrinking with cord-cutting, offset by streaming subscription growth that overtook it as the larger domestic revenue source in 2025. The Dolan family retains control through dual-class voting shares.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 12, 2026 | UBS | Reiterate | Rating: —Target: — | Target: $10 |
| Jul 31, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $7 | Target: $10 |
| Jul 31, 2026 | Wells Fargo | Reiterate | Rating: —Target: $10 | Target: $11 |
| Apr 30, 2026 | Morgan Stanley | Target | Target: $6 | Target: $7 |
| Feb 12, 2026 | Wells Fargo | Reiterate | Rating: —Target: $8 | Target: $10 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $464.0M · Total debt $1.75B · Total assets $3.73B · Shareholders' equity $911.2M
- Revenue
- $547.5M
- Operating income
- $15.9M
- Net income
- −$21.9M
No dividends on record.
| Institutions | 85.15% | 35.12M shares | |
|---|---|---|---|
| 183 holders · as of Jun 30, 2026 | |||
| Insiders | 60.93% | 25.13M shares | |
| 14 holders · as of Sep 16, 2026 | |||
| Strategic holders | 8.36% | 3.45M shares | |
| 6 holders · as of Sep 10, 2025 | |||
| Adds to | 154.44% | ||
41.25M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (41.25M in the company's Sep 22, 2026 report, 32.44M elsewhere); stakes use the report.
These groups come from separate filings that can overlap, so they add to 154.44%; nothing is left for Other.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Mary S. Dolan, as Trustee of certain trusts as described hereinInsider | 16.71% | 6.89M | filed Sep 10, 2025 |
Charles F. Dolan1Insiderdirector, 10 percent owner, other: Member of 13(d) Group | 15.93% | 6.42M A | filed Apr 1, 2024 |
Kathleen Margaret DolanInsider10 percent owner, other: Member of 13(d) Group | 13.97% | 5.59M B · 175,000 A | filed Sep 10, 2025 |
Clearbridge Investments, LLCInstitution | 12.97% | 5.35M | filed Feb 14, 2020 |
BlackRock, Inc.Institution | 9.14% | 3.77M A | as of Jun 30, 2026 |
- Charles F. Dolan's transaction reports restate only vehicles that traded; the 2020 ownership statement (6.42M) plus the 148.0K net shares acquired since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 14, 2026 | Michael J. III Sherin | officer: EVP & Chief Accounting Officer | −10,648 | $12.35 |
| Mar 10, 2026 | Michael J. III Sherin | officer: EVP & Chief Accounting Officer | −5,963 | $7.96 |
- Warner Bros. Discovery
Head-to-head in prestige drama and premium streaming via HBO Max
- Paramount Skydance
Overlaps in linear cable, streaming, and prestige drama via CBS/Paramount+
- Netflix
Head-to-head for scripted-drama and genre viewer attention
- Walt Disney
Overlaps in prestige drama and streaming bundles via FX/Hulu
- Versant Media Group
Structural peer in basic-cable genre and true-crime programming
- Comcast
Overlaps in women-skewing cable and streaming via Bravo/Peacock
- Fox Class A
Overlaps in prestige drama and FAST streaming via FX/Tubi
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| AMC Networks | $12.18 | +1.75% | $388.3M | — | 3.1 | 0.2 | −8.8% |
| Warner Bros. Discovery | $30.82 | +0.06% | $77.22B | — | — | 2.1 | −11.2% |
| Paramount Skydance | $10.03 | +1.21% | $10.78B | — | 12.1 | 0.4 | +0.9% |
| Netflix | $72.07 | −1.76% | $305.47B | 23.1 | 20.8 | 6.3 | +13.4% |
| Walt Disney | $104.14 | −0.09% | $180.96B | 21.5 | 13.9 | 1.8 | +7.1% |
| Versant Media Group | $33.77 | −2.68% | $4.91B | 6.6 | 7.4 | 0.7 | −3.8% |
| Comcast | $22.56 | −1.64% | $81.37B | 7.4 | 6.5 | 0.7 | −1.2% |
| Fox Class A | $64.38 | −0.63% | $28.41B | 16.9 | 10.8 | 1.7 | +28.1% |
| Median | 16.9 | 11.5 | 1.7 | +0.9% |