From the Street

Fulcrum’s Rich Greenfield dismissed fears that Time Warner Cable will put significant pressure on Rainbow’s AMC or drop the net. TW won a lawsuit earlier this month that lets it drop AMC because it switched to more modern movies. AMC plans to appeal. Greenfield expects TW may use the situation to get Cablevision to carry its NY Mets RSN, a jv with Comcast. "While [CVC] may agree to carriage of the Mets Network (as they will need to show the programming or risk losing subs to competitive platforms) that will not impair the value of the new Rainbow Media entity," Greenfield said in a research note. He doesn’t think TW can afford to put much pressure on AMC because it’s seeking FCC and LFA approval of its Adelphia acquisition. Greenfield also suggests TW would like to move AMC to digital or reduce its license fees, but he doesn’t think the MSO will be successful.