AMC Networks Inc. (Nasdaq: AMCX) is investing $65 million in RLJ Entertainment Inc. (Nasdaq: RLJE), a company backed by the founder of Black Entertainment Television, creating a partnership aimed at reaching two niche audiences, African-American viewers and fans of British programming , with online video services.
AMC, best known for the U.S. cable channel that airs “The Walking Dead,” also operates BBC America through a joint venture with BBC Worldwide, and owns WE tv, a network popular with black viewers. RLJ Entertainment owns two streaming video services: Acorn TV, which broadcasts British mysteries and dramas, and Urban Movie Channel, which is geared to African-Americans. AMC will provide money and resources to RLJ Entertainment and look for ways the two companies can work together. “The asset base is quite complementary,” AMC chief executiveoOfficer Josh Sapan said in an interview.