AMC said it would be taking charges against earnings of between $350 million to $475 million, including organizational restructuring costs including severance totaling about $50 million to $75 million. Last month, AMC Networks CEO Christina Spade departed and chairman James Dolan announced the company would be making “large-scale layoffs.” In the next few days, the company eliminated 20% of its staff. With cord-cutting eroding traditional pay-TV subscribers, AMC Networks has been pursuing a strategy of trying to reach viewers by getting its networks and programming on multiple streaming and over-the-top platforms. “These networks remain available through other major cable, satellite and digital TV providers and viewers can also subscribe to our AMC Plus streaming offering for popular and award-winning television series and films from several brands within the AMC Networks family.' 'We are disappointed we could not reach an agreement with fuboTV, which is primarily focused on sports programming, to continue carrying AMC, BBC America, WE tv, IFC, SundanceTV, and BBC World News,” AMC Networks said in a statement. The company took a $35 million charge against earnings resulting from its decision to get out of the sports-betting business. In the third quarter, FuboTV said it had 1.231 million subscribers. Discovery networks including HGTV, Discovery, OWN and TLC and E.W. In addition to sports channels, Fubo currently carries networks from ESPN parent The Walt Disney Co., including FX and Disney Channel Paramount channels including TV Land, Paramount Network and VH1 Warner Bros. As a sports-first live TV streaming platform, Fubo’s mission is to provide leading sports, news and entertainment content while keeping costs reasonable for consumers.”

“We are focused on super-serving our passionate sports customers as evident by our recent agreement to launch Sinclair Broadcast Group’s Bally Sports regional sports networks in the coming weeks. “FuboTV’s content agreement with AMC Networks expired at the end of 2022,“ the company said in a statement. Fubo launched AMC’s channels, including AMC, BBC America, IFC and WE tv, in 2018.

Bally sports on fubo