Dolan had been chairman of AMC’s board of directors.
When AMC announced that Spade was stepping down, the company said it was “finalizing” who would be named as a replacement.
After Spade’s exit, AMC Networks laid off 20% of the 1,000 people who worked there. The company cited the changing media landscape, with cord-cutting reducing revenues faster than they can be replace by streaming as making eliminating costs necessary.
AMC said that as executive chairman, Dolan will be able to provide strategic oversight of the company until a new CEO is named.
“AMC Networks has a seasoned executive leadership team and I look forward to working with them to provide high-level strategic direction and guidance as we navigate the business during this period of transformation in the media industry," Dolan said.
He will keep the new post until a new CEO is selected or March 6, whichever comes first.
In a filing with the Securities and exchange commission, AMC said that Dolan, whose used to own Cablevision Systems and continues to control AMC, Madison Square Garden and the New York Knick and Rangers, will not receive any incremental compensation with his appointment as interim executive chairman.
As a director of AMC Networks, Dolan received total compensation of $242 624 in 2021. ■
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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.
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