A Massive ‘The Walking Dead’ Rights Deal Could Be Happening Soon

AMC Global Media is trying to secure the next licensing deal for the TV series The Walking Dead. The company is in talks with several interested buyers and wants to keep part of the rights for itself while also sharing them with partners.

The Walking Dead main show ended in 2022, but it is still very popular on streaming platforms. It also led to several spin-off shows, which keeps the franchise active and valuable.

During a recent earnings call with Wall Street analysts, AMC Global Media CEO Kristin Dolan talked about the negotiations. She said, “We’ve been really excited about the inbound for discussion on the licensing rights for The Walking Dead.” She also explained that the company is looking at different deal structures and is open to multiple options.

Dolan said AMC does not want to give full control to just one partner. Instead, the company prefers shared deals. She said, “We definitely feel it’s important to keep some of the content for ourselves co-exclusively, so we’re emphasizing the fact that we’re looking predominantly a co-exclusive deals, but there are some very large and enthusiastic partners in the bidding process right now.”

She also said the rights could be sold in different ways, either as one big package or split by regions like domestic and international markets. In simple terms, AMC is still deciding the best structure and has not chosen a final plan yet.

AMC Global Media’s president and chief commercial officer Kim Kelleher also spoke during the call. She said the company looks at more than just money when making deals. She said, “Of course we consider the customer experience and discoverability when we’re looking for what our co-exclusive partnerships are going to be going forward.” She added that AMC is already working with several partners around the world for The Walking Dead and continues discussions with them.

The company did not name any bidders, but analysts believe big streaming platforms could be involved because of past relationships with AMC content.

At the same time, AMC reported mixed financial results for the quarter. Revenue dropped 2 percent to 542.1 million dollars. Earnings also fell sharply compared to last year, going down from 52 cents per share to 8 cents per share on an adjusted basis. Even so, both results were better than what analysts expected.

Streaming revenue grew by 11 percent to 174 million dollars. This increase came mainly from higher prices, even though the number of subscribers went down slightly to 10.1 million.

AMC also said that whatever happens with the Walking Dead licensing deal will not be included in its financial forecast for 2026 operating income. The company is still waiting to finalize any agreement.

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