AMC Networks Inc. 8-K

What Happened

• On February 23, 2026, AMC Networks Inc. filed an 8‑K announcing a First Supplemental Indenture to the Indenture dated July 3, 2025, governing its $400,000,000 aggregate principal amount of 10.50% Senior Secured Notes due 2032. The supplemental indenture became effective and the company issued a press release announcing the amendments and an extension of the related consent solicitation.

Key Details

• The amendment permits buybacks, purchases, redemptions, retirements or other acquisitions of AMC Networks equity up to an aggregate of $50,000,000.
• The Notes involved: $400,000,000 principal of 10.50% Senior Secured Notes due 2032 (Indenture dated July 3, 2025).
• The covenant limiting transfers/licenses of certain trademarks to unrestricted subsidiaries was revised to allow only non‑exclusive licenses.
• Investments in unrestricted subsidiaries are now restricted to specified clauses within the definition of “Permitted Investments.” Trustee: U.S. Bank Trust Company, N.A.

Why It Matters

• The change formally allows the company to use up to $50M to repurchase or otherwise acquire its equity, a capital-allocation move that can affect shares outstanding and potentially support share price.
• The trademark and unrestricted-subsidiary changes narrow the company’s ability to move certain assets or make broader investments via unrestricted subsidiaries — items that can affect creditor protections and the company’s flexibility.
• Investors should watch for announcements of any actual repurchase activity, further consent-solicitation updates, and how these amendments factor into AMC Networks’ broader capital strategy and debt covenants.