AMC Global Media Inks $500 Million Walking Dead Licensing Deal with Netflix

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AMC Global Media announced a global co-exclusive licensing agreement with Netflix for the entire Walking Dead universe, totaling $500 million in contracted fees over five years. The company raised its full-year 2026 AOI guidance to $410-$420 million and free cash flow guidance to approximately $220 million, reflecting an improved financial outlook. Consolidated net revenue declined 9% year-over-year to $547 million in Q2 2026, while affiliate revenue decreased 17%. Streaming services showed a double-digit increase in engagement and sequential improvement in retention, even after price increases, though subscriber acquisition came in slightly below expectations in the first half of 2026. The company also renewed distribution agreements with four of the top five major domestic MVPDs in the last 12 months, including Comcast and YouTube.