AMC to Buy Majority of RLJ Entertainment
RLJ Entertainment would become a privately owned subsidiary of AMC, the cable network said Monday as it announced intentions to buy the outstanding shares of RLJ. AMC currently owns 26 percent of the premium digital channel, which is home to…
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the Acorn TV and Urban Movie Channel streaming services, it said. It said founder Bob Johnson -- who founded Black Entertainment Television -- would keep a minority stake in RLJ. AMC invested $65 million in RLJ in 2016 (see 1610170027).