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In a shocking transfer, AMC Networks Chief Govt Officer Christina Spade has stepped down after solely three months within the position.
It wasn’t instantly clear what led to the abrupt exit. In a brief assertion, the AMC Networks Board of Administrators stated it’s presently finalizing who it’s going to title as a substitute.
AMC Networks Chairman James Dolan stated: “We thank Christina for her contributions to the corporate in her CEO position and her earlier CFO position, and we want her nicely in her future endeavors.”
Trade vet Spade beforehand held senior roles at ViacomCBS, CBS Corp. and Showtime. In August it was introduced that she would substitute interim CEO Matt Clean who had changed long-time chief Josh Sapan.
“I’m a fan of this firm in each respect, its content material, manufacturers, and most significantly, its folks and dynamic and inclusive tradition,” Spade had stated in August.
Spade ascended to the CEO position after becoming a member of the corporate in 2021 as Chief Monetary Officer. She had beforehand been CFO at CBS and Showtime.
The shuffle on the prime of AMC continues a interval of transition for the corporate, which was previously referred to as Rainbow Media earlier than a derivative from Cablevision greater than a decade in the past.
Like its friends within the cable programming enterprise, AMC Networks faces intense challenges from accelerating charges of cord-cutting. The corporate has signaled a plan to derive most of its income from streaming by 2025, however outcomes throughout the media enterprise recommend that streaming just isn’t as worthwhile because the dual-revenue stream of conventional pay-TV.
Dade Hayes contributed to this report.
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