AMC Networks Poised To Take Over RLJ Entertainment With $65M Loan

Shares of cable programming pioneer Robert Johnson’s RLJ Entertainment opened up more than 26% this morning after it disclosed that AMC Networks has loaned it $65 million — and picked up stock warrants that could give it control. RLJ owns subscription streaming services UMC (the Urban Movie Channel) and Acorn TV, which specializes in British mystery dramas. Johnson founded BET. RLJ plans to use the cash to refinance its debt, lowering interest rates, and to give itself…

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