Christina Spade attends The Hollywood Reporter, SAG-AFTRA and Heineken Celebrate Emmy Award Contenders at Annual Nominees Night on September 10, 2022 in West Hollywood, California.
Michael Kovac | The Hollywood Reporter | Getty Images
AMC Networks Chief Executive Christina Spade has stepped down from her function lower than three months after being promoted to the place.
The cable TV community mentioned in a regulatory submitting Tuesday that Spade will obtain her severance fee in accordance together with her Aug. 4 employment settlement, which mentioned she’d be eligible for it if terminated with out “cause” or if she resigned for “good reason.”
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An organization spokeswoman declined to offer additional particulars. AMC Networks shares have been down about 2% midmorning.
AMC mentioned in a press release that its board is finalizing its determination for Spade’s alternative.
“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,” Chairman James Dolan mentioned within the assertion. AMC Networks is managed by Dolan and his household, which additionally owns Madison Square Garden Entertainment.
Spade joined AMC Networks in 2021 as chief monetary officer and some months later was promoted to the twin function of chief working officer and CFO. In August, lower than a yr later, the corporate introduced she would take over as CEO.
Spade, an business veteran who beforehand held high positions at ViacomCBS, CBS Corp. and Showtime, changed interim CEO Matt Blank at AMC Networks.
Blank, the previous chairman of Showtime, had taken over in 2021 after Josh Sapan left the corporate following a 26-year run that noticed the community rework right into a hitmaker with collection akin to “Mad Men” and “The Walking Dead.”
In current years, AMC Networks has been seen as an acquisition goal for bigger media corporations. In addition to its profitable run of TV exhibits, it has area of interest streaming providers akin to AMC+ and the horror-focused Shudder.
AMC has additionally been eyed by NBCUniversal’s Peacock, which has approached varied smaller streaming providers about bundling their content material, CNBC beforehand reported.
Disclosure: Comcast’s NBCUniversal is CNBC’s mum or dad firm.