In a surprising move, AMC Networks Chief Executive Officer Christina Spade has stepped down after only three months in the role.
It wasn’t immediately clear what led to the abrupt exit. In a short statement, the AMC Networks Board of Directors said it is currently finalizing who it will name as a replacement.
AMC Networks Chairman James Dolan said: “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.”
Industry vet Spade previously held senior roles at ViacomCBS, CBS Corp. and Showtime. In August it was announced that she would replace interim CEO Matt Blank who had replaced long-time chief Josh Sapan.
“I’m a fan of this company in every respect, its content, brands, and most importantly, its people and dynamic and inclusive culture,” Spade had said in August.
Spade ascended to the CEO role after joining the company in 2021 as Chief Financial Officer. She had previously been CFO at CBS and Showtime.
The shuffle at the top of AMC continues a period of transition for the company, which was formerly known as Rainbow Media before a spinoff from Cablevision more than a decade ago.
Like its peers in the cable programming business, AMC Networks faces intense challenges from accelerating rates of cord-cutting. The company has signaled a plan to derive most of its revenue from streaming by 2025, but results across the media business suggest that streaming is not as profitable as the dual-revenue stream of traditional pay-TV.
Dade Hayes contributed to this report.
