AMC Networks is set to acquire Robert Johnson’s RLJ Entertainment.
RLJ is a premium digital channel company that owns Acorn TV and UMC (Urban Movie Channel). Johnson will maintain a minority stake in his creation, but the OTT company will become a privately owned subsidiary of AMC Networks.
The deal breaks down to a purchase price of $4.25 per share in cash — a 10 percent premium above RLJ stock’s closing price on Friday — and values Johnson’s company at about $60 million.
The Josh Sapan-led AMC previously invested $65 million worth of loans in RLJ Entertainment back in October 2016.