Charter Communications (CHTR) shares rose to a new record on Wednesday as the company announced a content partnership with AMC Networks (AMCX). CHTR was up 2% at $350.27 recently, trading in a new 52-week range between $201.04 and $350.37. AMCX was up 1% at $60.22.
The agreement will leverage AMC Studios’ capacity to develop and co-produce original programming, with exclusive co-branded content for Charter’s Spectrum platform. The partnership will give Spectrum customers access to content created specifically for them, further differentiating Charter’s platform and services.
The companies said they expect the first content co-produced and co-funded through this partnership to premiere on Charter Spectrum in 2018. Charter will have an exclusive initial window in the U.S. to the co-produced content for use on its own platform, while AMC Studios will retain subsequent rights, including the right to distribute the content internationally.