AMC Networks Pays $200 Million for 49.9% BBC America Stake

Global entertainment company AMC Networks, which airs popular shows like The Walking Dead and Mad Men, acquired a 49.9% stake in BBC America worth $200 million. BBC Worldwide will still retain 50.1% of the cable channel, although AMC will have operational control of the network in terms of affiliate and advertising sales. BBC America will be run as a separate channel, while remaining under the AMC Networks umbrella, which already includes networks like AMC, IFC and WE tv. AMC Networks stock ended the trading day up 1.16% closing at $59.12. Share are down 13.21% year-to-date. TheStreet's Scott Gamm reports from New York.