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Streamwhatyoulike OP t1_iy8qxnx wrote

Replying to hereforthensfwstuff (#767,994)

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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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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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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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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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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lightsongtheold t1_iy8ymhd wrote

Replying to VitaLonga (#769,256)

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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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_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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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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turkeygiant t1_iy9lmv5 wrote

Replying to VitaLonga (#769,256)

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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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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KumagawaUshio t1_iyazdj6 wrote

Replying to Lurky-Lou (#774,484)

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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youngdub774 t1_iybgopt wrote

Everyone lost the streaming wars

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