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AMC/Sundance Channel Global will be signing a deal with KinoweltTV to buy the channel, which is a basic pay TV channel that can be seen in Germany, Austria and Switzerland. The linear channel airs popular classic and contemporary films.
Variety added that this deal will be subject to regulatory approval, but if it goes through this will expand AMC/Sundance Channel Global’s European market and will provide full distribution across all platforms to many German-speaking populations.
The Hollywood Reporter added that the financial terms have not been disclosed by either party.
This channel's existing management will join the AMC global team, which is headed up by Bruce Tuchman. Achim Apell will remain in his current job as KinoweltTV’s managing director.
Tuchman explained why this deal was so important for AMC to reach a larger audience and increase their overall presence in Europe. “The acquisition of KinoweltTV is an important moment for AMC/Sundance Channel Global as it increases its international footprint, and provides widespread distribution across all major platforms throughout German-speaking Europe," said Tuchman.