Redeemable Noncontroling Interests

12 Months Ended

Dec. 31, 2017

In 2014, the Company, through a wholly-owned subsidiary, acquired 49.9% of the limited liability company interests of New Video Channel America L.L.C, that owns the cable channel BBC AMERICA. In connection with acquisition, the terms of the agreement provide BBC Worldwide Americas, Inc. with a right to put all of its 50.1% noncontrolling interest to the Company at the greater of the then fair value or the fair value of the initial equity interest at inception. The put option is exercisable on the fifteenth and twenty-fifth year anniversary of the joint venture agreement.

In connection with the creation of another joint venture entity in 2013, the terms of the agreement provide the noncontrolling member with a right to put all of its interest to the Company at the then fair value.

Because exercise of these put rights is outside the Company's control, the noncontrolling interest in each entity is presented as redeemable noncontrolling interest outside of stockholders' equity (deficiency) on the Company's consolidated balance sheet. The activity reflected within redeemable noncontrolling interest for the year ended December 31, 2017 and 2016 is presented below.



(In thousands)	Redeemable Noncontrolling Interest
December 31, 2015	$	211,691
Net earnings	16,669
Distributions	(9,010		)
Other	(19		)
December 31, 2016	$	219,331
Net earnings	17,797
Distributions	(18,561		)
Other	37
December 31, 2017	$	218,604