AMC Networks To See “Large-Scale” Layoffs As CEO Christina Spade Exits – Update

[Y2kTheNewOldies]

https://deadline.com/2022/11/amc-networks-ceo-christina-spade-exits-after-less-than-three-months-in-role-1235183610/#recipient_hashed=2ec9ce834f7dfcbd8366c088aae71c4495ea058de393aaa911e79a0a64eaa988&recipient_salt=1647efd76c5fdce2b562fb95bdf916387b7d2ea6936a1d5940c4336463521675

UPDATED, 8:56 AM: AMC Networks Chairman James 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 hadn’t been immediately clear what was behind her departure. But Dolan’s memo notes weakening financials. “It was our belief that cord cutting losses would be offset by gains in streaming,” Dolan said. “This has not been the case.”

“We have directed the executive leadership of AMC Networks to undergo significant cutbacks in operations. These will include a large-scale layoff as well as cuts to every operating area of AMC Networks,” he said in the memo obtained by Deadline. See in full below.

 

[Mikey Radio]

I haven't watched AMC in a few decades. First, they haven't played true "classics" in a very long time, and second, with streaming and other forms of media before that, it was too easy to find the same movies and content elsewhere, unedited and commercial-free, especially once they started airing mostly stuff from the 1980s and later.

What I didn't know is that AMC the parent company owns 14 different channels including a big chunk of BBC America.

 

[Joseph_Gallant]

What I didn't know is that AMC the parent company owns 14 different channels including a big chunk of BBC America.

So these other channels might also see major layoffs.

 

[Will_H_69_9]

i wonder if the AMC Networks are the next smaller major media company to be Gobble-gobbled by a bigger media giant. my money is on a AMC/NBCUniversal merger if not Disney or Viacom beating them to the punch.

 

[Don CT]

i wonder if the AMC Networks are the next smaller major media company to be Gobble-gobbled by a bigger media giant. my money is on a AMC/NBCUniversal merger if not Disney or Viacom beating them to the punch.

Way too much overlap in these networks. Why would someone pick them up.

 

[Will_H_69_9]

Way too much overlap in these networks. Why would someone pick them up.

IP Properties like owning shows like The Walking Dead (and the expanded TWD Universe with Fear The Walking Dead, the upcoming Daryl Dixon spinoff, the Rick & Michonne spinoff as well as "Dead City" Maggie & Negan spinoff). Breaking Bad, to name a few. plus Disney is taking over rights of Dr. Who and BBC America is co-owned by AMC Network, which Disney would try to acquire for that brand name alone just to expand on their Nat Geo brand and Disney+ brands.