AMC Networks Inc. — Director's Dealing 2012

May 8, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMC Networks Inc. (AMCX)
CIK: 0001514991
Period of Report: 2012-05-03

Reporting Person: Luxor Capital Group, LP (10% Owner)
Reporting Person: LUXOR CAPITAL PARTNERS OFFSHORE LTD (10% Owner)
Reporting Person: Luxor Capital Partners, LP (10% Owner)
Reporting Person: LUXOR SPECTRUM LLC (10% Owner)
Reporting Person: Luxor Wavefront, LP (10% Owner)
Reporting Person: LUXOR SPECTRUM OFFSHORE LTD (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-03	Common Stock	S	11896	$44.8188	Disposed	2871375	Direct

Footnotes

F1: Reflects the securities of the issuer owned directly by Luxor Capital Partners Offshore Master Fund, LP (the "Offshore Master Fund"). The Offshore Master Fund is a subsidiary of Luxor Capital Partners Offshore, Ltd. (the "Offshore Feeder Fund").

F2: Luxor Capital Group, LP ("Luxor Capital Group") acts as the investment manager of Luxor Capital Partners, LP (the "Onshore Fund"), Luxor Spectrum, LLC (the "Spectrum Onshore Fund"), Luxor Wavefront, LP (the "Wavefront Fund"), the Offshore Master Fund, the Offshore Feeder Fund, Luxor Spectrum Offshore Master Fund, LP (the "Spectrum Offshore Master Fund"), and Luxor Spectrum Offshore, Ltd.(the "Spectrum Offshore Feeder Fund," and collectively, the "Luxor Funds") and of accounts it manages separately (the "Separately Managed Accounts"). Luxor Management, LLC ("Luxor Management") is the general partner of Luxor Capital Group. Mr. Leone is the managing member of Luxor Management. LCG Holdings, LLC ("LCG Holdings") is the general partner of the Onshore Fund, the Wavefront Fund, the Offshore Master Fund and the Offshore Spectrum Master Fund and the managing member of the Spectrum Onshore Fund. Mr. Leone is the managing member of LCG Holdings.

F3: The Onshore Fund directly owns 1,898,787 shares of common stock, the Spectrum Onshore Fund directly owns 20,918 shares, the Wavefront Fund directly owns 1,125,792 shares, the Spectrum Offshore Master Fund directly owns 248,112 shares, and the Separately Managed Accounts hold 468,526 shares.

F4: Luxor Capital Group, Luxor Management and Mr. Leone may each be deemed to indirectly beneficially own the shares of common stock held by the Luxor Funds and the Separately Managed Accounts. LCG Holdings may be deemed to indirectly beneficially own the shares of common stock held by the Onshore Fund, the Spectrum Onshore Fund, the Wavefront Fund, the Offshore Master Fund and the Spectrum Offshore Master Fund. For purposes of this Form 4, Luxor Capital Group, Luxor Management, LCG Holdings and Mr. Leone each disclaims beneficial ownership of the shares of common stock owned by the Luxor Funds and the Separately Managed Accounts, except to the extent of their or his pecuniary interest therein.