Why Was AMC Networks Today's Hottest Media Stock?

The 10.3% jump in AMC Networks‘ shares to $39.20 is a surprise on the first trading day after Dish Network dumped AMC, IFC, and WE — costing the channels 14.1M potential viewers. There was no big news event or even an upbeat analyst report today. But I hear that some Wall Streeters were impressed by AMC’s settlement this weekend with AT&T U-verse. Although the companies didn’t say how much more AT&T agreed to pay for the channels, some believe it to be at least 10%. The deal also seemed to indicate that the troubles with Dish are isolated, and not the beginning of an industrywide abandonment of AMC. And there’s a sense that AMC has already been beat up enough. Its stock was down 20% from early May when Dish announced its plans to the closing bell on Friday. With today’s jump AMC is down 12% over that period — and is back into positive territory for 2012.

This article was printed from https://deadline.com/2012/07/why-was-amc-networks-todays-hottest-media-stock-295565/