by Nate Wooley | October 22, 2012 9:23 am
Just in time for Halloween, satellite subscribers will get their fix of zombies with The Walking Dead. After missing that show for months, Dish Network (NASDAQ:DISH) subscribers will be able to catch up on AMC Network’s (NASDAQ:AMCX) zombie hit as well as the channel’s other award-winning shows.
The two have reached a settlement of a dispute that’s more than four years old. As a part of the settlement, Dish will pay AMC $700 million. Included in the arrangement is $80 million for Dish to buy spectrum licenses from AMC sister-firm Cablevision (NYSE:CVC).
The dispute between them began when Voom, a unit of AMC, sued Dish forerunner Echostar for breach of contract concerning high-definition channels. In June, the stakes were raised when Dish dropped AMC’s programming, including affiliated channels such as Sundance and others, citing their high cost. At the time, AMC said the move was related to the ongoing lawsuit.
Things should work out well for both parties. Dish provides more than 10% of the potential audience for AMCs channels and has been facing significant blowback from subscribers since dropping AMC.
Source URL: http://investorplace.com/2012/10/dish-settles-with-amc-gets-shows-back/
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