This is one heck of a week for the Dolan family. It isn’t just because of Lin-sanity — the mind-boggling scoring spree by New York Knicks point guard Jeremy Lin that has sent the stock price soaring for Madison Square Garden, where Jim Dolan is chairman and the dominant shareholder. AMC Networks, the cable networks company that the Dolans also control — and that went public last June — hit a new high today, closing at $44.26, up 3.1%. Investors are chewing on the possibility that it will go on a scoring spree of its own, potentially making it a ripe acquisition target. On Sunday the channel’s Season 2 premiere for The Walking Dead attracted 8.1M viewers, the largest audience ever for a cable drama. And on March 25 it will have the eagerly anticipated return of its hit series Mad Men. That led J.P. Morgan analyst Monica DiCenso this week to raise her target price for AMC shares to $51 from $43. At today’s closing price, AMC shares are up about 17.8% so far in 2012. AMC will report its year-end earnings March 15.
By DAVID LIEBERMAN, Financial Editor | Thursday February 16, 2012 @ 4:07pm ESTTags: AMC Networks, James Dolan, Mad Men, The Walking Dead
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