Starz Entertainment announced on Thursday that it has acquired AMC Entertainment for $4,5 billion in cash.
The company said the deal will give it control of nearly all of the streaming-video giant’s entertainment properties, including AMC’s popular The Walking Dead, as well as The X-Files.
The deal was announced at the Cannes Film Festival in France, and is expected to close in the third quarter.
Starz Chief Executive Officer Rob Marcus said in a statement that the combination “will enable Starz to become a leader in the industry in both content and value.”
“It is our vision to become the number one entertainment network and a platform for our fans to enjoy their favorite shows and films, both on our digital platforms and on the ground,” Marcus said.
“Our combination with AMC will further our strategy to bring our audience the content they love while leveraging our digital platform to deliver a richer and more authentic entertainment experience for our audiences.”
AMC is best known for its award-winning zombie series The Walking Death and the popular cult-favorite The Walking, and Marcus said that the two will be “remarkably integrated into the new Starz entertainment strategy.”
The deal also gives Starz more control of AMC’s existing streaming-media properties, with AMC now being the sole exclusive home for AMC shows like Mad Men, The Walking Zombie, and The Walking Bible.
“We are excited to partner with Starz as we continue to evolve our entertainment business strategy, aligning our strategy with the consumer’s growing appetite for engaging entertainment and our commitment to innovation,” Marcus added.
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