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AMC, home of the popular Walking Dead series, is reportedly looking to buy a minority stake in fellow cable network BBC America.
Sources say that AMC, which also runs SundanceTV and IFC, wants to purchase a nearly 50 percent stake, leaving BBC still with a majority, The New York Times reports.
People familiar with the situation have said that the move would allow AMC to help BBC America by lowering overhead costs and helping improve distribution and advertising. The two networks have already starting working together on projects, helping to produce Top of the Lake and the upcoming Maggie Gyllenhaal series The Honorable Woman.
Neither network commented directly on the situation, with BBC America spokeswoman Jo Petherbridge only noting, "BBC America has just recorded eight straight years of growth and has never been stronger in brand, ratings, advertising or critical acclaim."
According to sources who spoke with Bloomberg, partnership isn't guaranteed, but should a deal be hammered out, AMC is said to be looking to pay in cash.
Macquarie Securities analyst Amy Yong said that BBC America is likely worth $200 million, while AMC is sitting pretty with a market value of $4.41 billion.
image courtesy of iNFphoto.com