Greenberg Exits Epix After MGM Completes Acquisition
CEO Mark Greenberg has exited Epix following its acquisition by Metro-Goldwyn-Mayer.
Monty Sarhan, executive VP, programming, strategy and enterprises at Epix, was named interim nanager.
In an internal memo, Greenberg said it was the right time to leave. “I have decided that I am ready to move on to other interesting and exciting opportunities in the media and entertainment industry,” he said.
Sarhan will report to MGM CEO Gary Barber.
“Founding EPIX and building it over the past nine years into a thriving and successful business has been one of the great accomplishments of my professional life," said Greenberg in a statement. "With the completion of the integration of EPIX into MGM, I have decided that I am ready to move on to other interesting and exciting opportunities in the media and entertainment industry that will allow me to tap into my entrepreneurial spirit and build on my experience at EPIX. While this is a difficult personal decision, I know that now is the right time to leave. We have built an incredibly talented team at EPIX and MGM is a great owner that has strong leadership in Gary Barber. Working together, I am confident that EPIX will continue to build on its success as it heads into its next phase of development as part of MGM. I want to thank Gary for his partnership and look forward to helping him in any way I possibly can going forward.”
In an internal memo, Barber said, “I want to thank Mark for building and leading the business over the last nine years. His dedication and commitment to the company during this integration process has been greatly appreciated.”
Read the full memo below:
When we announced our acquisition of EPIX earlier this year, we expressed our excitement about adding the fastest growing premium pay TV network to the MGM family of properties.
As we have completed the integration of EPIX into MGM, Mark Greenberg, the founding CEO of EPIX, has decided to leave the company to pursue other opportunities in the media and entertainment industry.
Mark has been a driving force behind the success of the company and a pioneer in TV Everywhere, leading EPIX to become the first cross platform network and overseeing its programming expansion into original scripted series.
In the interim, EPIX will be managed by Monty Sarhan, Executive Vice President, Programming, Strategy & Enterprises and its talented operating team that is already in place. He will report to me for the time being with help and assistance from MGM's senior management team including Chris Ottinger, President, Worldwide Television Distribution & Acquisitions and Ken Kay, Chief Financial Officer.
In closing, I want to thank Mark for building and leading the business over the last nine years. His dedication and commitment to the company during this integration process has been greatly appreciated. We wish him all the best in his endeavors.
We are confident in the future of EPIX and look forward to making significant investments in premium content to further the company’s growth and success.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
By Kent Gibbons