There’s still no jury for AMC Networks’ $2.5B breach of contract suit against Dish Network — and the New York State Supreme Court won’t reconvene until Thursday. The jury was supposed to have been picked last week, but the process “is still ongoing,” reports Barclays Equity Research’s Anthony DiClemente. He says opening arguments could come Thursday “at the earliest.” The delays seem to hurt AMC more than Dish: The satellite company dropped AMC’s channels in June, and it’s hard to imagine Dish returning them to its 14.1M subscribers without a deal. DiClemente says that the trial now could run to late October which poses “some risk” to his Q4 earnings estimates for AMC, although he says it doesn’t change his forecast that the network owner will win “either a favorable settlement or judgment” in its favor. The trial will determine whether Dish had the right in 2008 to terminate its 15-year deal to air the Voom Networks suite of HD channels. The defunct channels, formerly owned by Cablevision, were packaged with AMC when the cable company spun off the network operation this year.
By DAVID LIEBERMAN, Financial Editor | Tuesday September 25, 2012 @ 3:26pm EDTTags: AMC Networks, Dish Network, Voom
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