Breaking Bad may be ending with record ratings, but AMC Networks (NASDAQ:AMCX) and Sony Corporation (ADR) (NYSE:SNE) are working on a spinoff for actor and comedian Bob Odenkirk, who plays crooked lawyer Saul Goodman on the hit drama.
What’s that mean practically? Not much, since all we have at the moment is a development deal. From AMC Networks Inc (NASDAQ:AMCX)’s press statement:
As conceived, the new series is based on the show’s popular Saul Goodman character with the working title Better Call Saul. Plans call for Saul to be a one-hour prequel that will focus on the evolution of the popular Saul Goodman character before he ever became Walter White’s lawyer.
Color me thrilled by the possibility, and not just as a fan. Greenlighting the show could be a nice catalyst for AMC Networks Inc (NASDAQ:AMCX) stock. Why? First, Odenkirk’s character is beloved. Second, his personal story isn’t well explored during the events of Breaking Bad. And third, history proves that well-executed spinoffs can be massively profitable. Consider Frasier, which ran for 11 seasons and 264 episodes after spinning off from Cheers, creating a windfall for NBC in the process.
Network parent Comcast Corporation (NASDAQ:CMCSA) is probably still profiting today. How could it not when every episode of the hit comedy is on Netflix, Inc. (NASDAQ:NFLX) and Amazon.com, Inc. (NASDAQ:AMZN)‘s Instant Video?