Starz stock rose in after hours trading after a report that it was in talks to be acquired by AMC Networks.
The discussions were reported by Bloomberg, which cited sources who said the two companies had talked a year ago and hadn’t been able to agree on a price and that this round of talk might also not result in a transaction being completed.
Starz is controlled by John Malone who has said that consolidation among programmers is likely.
Starz stock finished Tuesday’s trading up 1.39% at $38.79 a share then rose another 7% to $41.50 in after hours trading. It’s 52 week high was $36.59.
AMC closed up $2.49% at $74.14 and was up almost 1% more in after hours trading.
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
