Business briefs: AMC Networks to operate BBC America
NEW YORK – AMC Networks Inc. said Thursday it will pay $200 million to acquire a stake in BBC America.
The entertainment company known for shows such as “The Walking Dead” and “Mad Men” will have a 49.9 percent equity stake in the cable channel that is home of shows such as “Doctor Who” and “Orphan Black.”
BBC Worldwide, the commercial arm of the British Broadcasting Corp., will retain 50.1 percent ownership. The BBC said in a statement the partnership will help it reach new audiences in the U.S.
New York-based AMC will have operational control of BBC America and manage it as a stand-alone channel, adding to its portfolio that also includes AMC, IFC and SundanceTV.
Cloud revenue lifts Microsoft’s quarter
SAN FRANCISCO – Microsoft’s quarterly profit and revenue sailed past expectations Thursday, as CEO Satya Nadella’s push to embrace cloud computing and diversify into mobile devices helped lift sales by 25 percent.
Although Microsoft still makes most of its money from selling traditional software for businesses and home computers, revenue from cloud services, including software delivered over the Internet, more than doubled last quarter at a time when some of its better-known segments are slowing.
The stock, which closed at $45.02 before the results were released, is up 33 percent in the last 12 months.
The tech giant reported net income of $4.54 billion, or 54 cents per share, for its fiscal first quarter that ended in September – beating analysts’ consensus estimate of 49 cents per share, according to FactSet.
Apple plans 25 more stores in China
Tim Cook is in China this week, where he announced plans to open 25 new Apple stores in its Greater China region in the next two years.
The chief executive made his remarks to Sina, a Chinese online media company. Currently Apple has 15 stores in its Greater China region, which includes the mainland, Hong Kong and Taiwan.
Cook met with Vice Premier Ma Kai and toured facilities that produce Apple devices
The Cupertino, Calif., company reported fourth-quarter results on Monday and said it pulled in revenue of $5.8 billion in the Greater China region, which accounted for 14 percent of the company’s total revenue.