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highmodulus t1_iy8x3vr wrote

"Our entire channel is The Walking Dead spin-offs, and nostalgia for the Breaking Bad/Mad Men era, and nobody is buying our company- time to run away from the mess I created!"

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ThusSpokeConfucius t1_iy9ey4o wrote

She's totally going to get a nice golden parachute so is it really running when you don't get punished for any decision you make

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KumagawaUshio t1_iyazj4u wrote

She was CEO for less than 3 months and only joined AMC in 2021.

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nervuswalker t1_iybj3ks wrote

Ah yes, because making someone CEO who’s barely been with the company is always a great idea

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Lurky-Lou t1_iy9g4ns wrote

Why don’t they license all their content to Amazon or Netflix?

Let the bigger company deal with the technological headaches while they take in pure profit?

Guessing existing contracts makes that untenable.

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KumagawaUshio t1_iyazdj6 wrote

Because AMC jumped on the streaming bandwagon so hard they have 8 different streaming services.

Hell, 4 longer running AMC shows aren't even owned by AMC. Breaking Bad, Better Call Saul and Preacher are owned by Sony and The Killing was a 21st Century Fox and now Disney owned show.

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Streamwhatyoulike OP t1_iy8zv2q wrote

“It was our belief that cord cutting losses would be offset by gains in streaming,” Dolan said in the memo. “This has not been the case. We are primarily a content company and the mechanisms for the monetization of content are in disarray.”

The layoffs are expected to be significant. The Wall Street Journal earlier reported that layoffs would take place. An AMC Networks spokeswoman didn’t immediately respond to comment

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Streamwhatyoulike OP t1_iy8rku0 wrote

AMC Networks stock (NASDAQ:AMCX) started a new leg down, -4.7% midmorning Tuesday, on a report it's readying large-scale layoffs that will provide added disruption alongside a leadership shakeup

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Streamwhatyoulike OP t1_iy8r3tv wrote

Wells Fargo analyst Steven Cahall wrote in a first reaction: “The announcement is a surprise to us

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jimbobdonut t1_iyaljp5 wrote

With Doctor Who leaving BBC America for Disney+, they might as well shut that channel down. It’s mostly Bones and Star Trek: TNG reruns now anyway.

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tubetalkerx t1_iybbygv wrote

They need to branch out towards a bold new direction and add Star Trek: Deep Space Nine and Star Trek: Voyager reruns.

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jimbobdonut t1_iybd51g wrote

They’re going to have outbid the Heroes & Icons channel for those rights!

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tubetalkerx t1_iybdnk0 wrote

I fear the day I turn on H&I and there’s no Star Trek.

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youngdub774 t1_iybgopt wrote

Everyone lost the streaming wars

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jsledge149 t1_iy8z02y wrote

Do you think, as good Americans, that we should set up a fundraising page to help this out-of-work CEO pay for medical expenses, food and mortgage payments?

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Streamwhatyoulike OP t1_iy8lhht wrote

So what does this mean?

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hereforthensfwstuff t1_iy8ovev wrote

It means she gets her $10m in severance.

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Streamwhatyoulike OP t1_iy8qxnx wrote

In August, AMC Networks had unveiled her as the successor for interim CEO Matt Blank, a former Showtime Networks CEO, who replaced long-time boss Josh Sapan who had announced his change to the executive vice chairman role after a 26-year run. Spade’s employment agreement was set to run through the end of 2025

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VitaLonga t1_iy8uee6 wrote

Sounds like the glass elevator - hire a woman when a business is struggling and then boot her months later.

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lightsongtheold t1_iy8ymhd wrote

They have been burning through leaders over the pandemic. They will likely keep that up in the coming years as AMC Networks are in an awful position. Incapable of competing in streaming and most of their revenue is made via cable (which is in the process of terminal decline). It is a bad job when stockholders are unhappy every quarter no matter what you do!

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mickdeb t1_iy9bqcx wrote

I domt see why it is related to the person's sex ?

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VitaLonga t1_iy9cvv5 wrote

It’s just an interesting pattern to observe.

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ArkyBeagle t1_iyaj9kx wrote

No, that industry is starting to have dumpster-fire characteristics.

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turkeygiant t1_iy9lmv5 wrote

I have always thought the whole glass elevator phenomena is kinda weirdly anti-sexist in a way and I'm not sure how you resolve it. I don't think boards of struggling companies are looking to screw over a female exec when they hire her, I think what they are doing is scrambling to try and change up the dynamic of the company's leadership in a positive way, but more often than not a company that is struggling is already on an inevitable path to failure. I think the bigger question/issue is why aren't these big companies ever looking to make these positive/diverse hirings even during the good times?

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