AMC Global Media Inc. (NASDAQ: AMCX) reported financial results for the third quarter ended September 30, 2026, announcing consolidated revenue growth driven by licensing and streaming businesses. The company also disclosed a significant legal settlement and several new content agreements.
On the operational front, the company announced that all seasons of The Walking Dead will be available on AMC+ as part of a new universe collection beginning January 7. The company also expanded its relationship with Netflix through a co-production agreement to develop new AMC Studios series, with the spy drama Bannerman being the first greenlit under this construct. Additionally, the company partnered with Alcon Entertainment and StudioCanal to greenlight a new Point Break series and Happy Jack, a comedy starring Charlie Sheen and Martin Sheen set to premiere in 2027. Production has commenced on Thunder Road, a multi-generational racing drama starring Dennis Quaid.
Financially, the company reported net cash used in operating activities of $42 million and Free Cash Flow of $(52) million. Adjusted Operating Income was $70 million, while the operating loss was $42 million. Diluted EPS was $(1.13), and Adjusted EPS was $0.44.
Consolidated net revenues for the quarter were $566.1 million, a 0.8% increase from the prior year. Domestic Operations revenue increased 2% to $495 million. Subscription revenue decreased 2% to $308 million, while streaming revenue increased 4% to $181 million. Advertising revenue decreased 7% to $102 million, and content licensing revenue increased 42% to $84 million.
In other matters, the company entered into a settlement agreement with Robert Kirkman and other plaintiffs resolving breach of contract claims related to The Walking Dead. The settlement requires a total consideration of $120 million, consisting of an $85 million cash payment made on September 16, 2026, and a $35 million payment due by January 31, 2027. The company also divested its ALLBLK streaming business on August 26, 2026, recording a pre-tax gain of $3.7 million.
Regarding capital allocation, the company repurchased 2,817,888 shares of Class A Common Stock as part of an accelerated share repurchase agreement concluded in October. As of September 30, 2026, the company had $87 million remaining under its stock repurchase authorization.
