The company, home to IFC, AMC+, Shudder, Acorn TV and Sundance TV, will see cuts to every operating area, wrote James Dolan, the company's chairman.
The company — home of such cable networks as AMC, IFC and Sundance TV, as well as such streamers as AMC+, Acorn TV and Shudder — didn’t immediately provide details about the reasons behind the move and said it was finalizing the process of picking a successor.
Across its brands, AMC Networks has about 10.8 million subscribers and the expectation is that subs will be at 12 million by year end with a plan to reach 20 million to 25 million by 2025. But cord-cutting is accelerating. In the latest quarter, the largest pay-TV providers in the U.S. saw a loss of 785,000 net video subscribers, compared to a loss of 650,000 in the year ago period, per a Leichtman Research tally.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WSJ News Exclusive | AMC Networks Plans Layoffs as CEO Christina Spade Steps DownAMC Networks is planning large-scale layoffs, according to a staff memo from the entertainment company’s chairman, a sign of further disruption at a company that earlier Tuesday announced its chief executive had stepped down.
Read more »
AMC Networks To See “Large-Scale” Layoffs As CEO Christina Spade ExitsAMC Networks Chairman Charles Dolan warned of layoffs at the media company in a staff memo to employees as newly installed CEO Christina Spade steps down after a tenure of only three months. It had…
Read more »
Pressure mounts on AMC Networks: CEO exits after less than three months, major layoffs comingAMC Networks signaled that significant layoffs were planned at the company, which has 1,700 employees, in a sign of growing investor impatience with financial results, SteveBattaglio writes.
Read more »
AMC Networks CEO steps down after less than three months | CNN BusinessAMC Networks is looking for a new CEO.
Read more »
AMC Networks CEO Spade stepped down, after being promoted to the role in SeptemberAMC Networks Inc. undefined said Tuesday that Chief Executive Christina Spade has stepped down, after less than three months in the role. The company did not...
Read more »
AMC Networks CEO Christina Spade Steps Down After Taking Over in September'The AMC Networks board of directors is currently finalizing who it will name as a replacement.'
Read more »