AMC Networks' CEO Christina Spade Exits

AMC Networks' CEO is out. Top line On Tuesday, AMC Networks announced that CEO Christina Spade is stepping down from her role. However, the company has yet to announce a replacement. In a memo sent to employees, AMC Networks chairman James Dolan also indicated cutbacks and a "large-scale layoff" were on the way. Between the lines Spade, who previously served as the company's CFO and COO, officially took on the CEO role on Sept. 9, succeeding Matt Blank, who had been interim CEO since September 2021. With the news, Spade exits less than four months after taking on the position. “We thank Christina for her contributions to the company in her CEO role and her earlier CFO role, and we wish her well in her future endeavors," Dolan said in a statement. Bob Iger Returns as Disney CEO, Replacing Bob Chapek, in Shocking Shakeup According to the company, AMC Networks' Board of Directors is still finalizing a replacement, and an announcement is forthcoming. In addition to Spade's exit, Dolan sent a memo to staff noting that gains in streaming at AMC+ haven't offset the company's losses from cord-cutting, adding that the "mechanisms for the monetization of content are in disarray." Because of this, the company is planning significant cutbacks and layoffs. “We of course realize that this will cause significant concern and anxiety for our employees and those who rely on AMC Networks for their livelihood,” Dolan said in the memo. “We do not take this lightly. We will take every step possible to minimize the impact of these actions on our community.” Prior to Spade's abbreviated tenure, the permanent CEO position had been vacant since August 2021 after president and CEO Josh Sapan transitioned to executive vice chairman. Sapan had previously led the company for 26 years. At the time of Spade's promotion to CEO, Dolan praised the decision, saying, “She is a proven leader with a long track record driving transformative change in media and entertainment, and I am confident she has the expertise and vision to guide AMC Networks to greater success.” Bottom line With Spade's exit, the TV industry continues its game of executive musical chairs. Earlier this month, Kelly Kahl, president of CBS Entertainment, announced he was leaving the network at the end of the year after 26 years at the company. His successor, Amy Reisenbach, is currently evp, current programs, CBS. The CW CEO Mark Pedowitz exited his position in October as Nexstar closed its acquisition of the broadcaster. Dennis Miller stepped in to take on the role. And Fox Entertainment CEO Charlie Collier surprisingly left his position in September for Roku. Fox announced that Rob Wade would take over as CEO.

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AMC Networks' CEO Christina Spade Exits Less Than 4 Months Into Role

The company is also planning to make significant layoffs

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Bill Bradley

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