Dish settlement hands AMC Networks $133m

AMC Networks’ second quarter financials have been boosted by a US$132.9 million sum gained from its legal dispute with cable platform Dish Network.

The one-off windfall the Mad Men and Breaking Bad network secured in October last year was the result of a case AMC and former parent Cablevision brought against Dish over the now defunct Voom HD satellite channel service.

AMC and Cablevision had originally been seeking up US$2.4 billion in damages after alleging Dish had unfairly terminated a deal to broadcast the service. Dish was eventually ordered to pay US$700 million.

Overall, AMC’s net revenue increased 15.8% year on year for the quarter ended June 30, 2013, and stood at US$379 million. Operating income was up 151.7% at US$247 million.

The network’s international unit, which includes the AMC/Sundance Channel Global division, saw revenue increase US$4 million to US$30 million.

AMC Networks, formerly known as Rainbow Media Holdings, spun out of Cablevision in July 2011.

“Our original programming continues to fuel the performance of our networks and underpin the Company’s growth,” said AMC Networks president and CEO Josh Sapin.