Christina Spade, CEO of AMC Networks, announced her resignation today after only three months in the position. There was no immediate explanation given for Spade’s departure.
“We thank Christina for her contributions to the company in her CEO role and her earlier CFO role, and we wish her well in her future endeavors,” said AMC Networks (NASDAQ: AMCX) Chairman James Dolan.
Spade joined AMC Networks in January 2021 as executive vice president and chief financial officer and was promoted to chief operating officer and chief financial officer in November 2021. She took over as CEO on September 9, replacing interim Matthew Blank, who had held the position for a year after Josh Sapan, a 26-year company veteran, stepped down to become executive vice chairman of AMC Networks in September 2021.
Dolan described Spade as “a proven leader with a long track record driving transformative change in media and entertainment” and said he was “confident she has the expertise and vision to guide AMC Networks to greater success” in a statement at the time.
According to a filing with the Securities and Exchange Commission, Spade will receive more than $10 million in severance pay under her employment agreement if she is fired without cause or resigns for good reason, according to The Wall Street Journal.
Prior to joining AMC, Spade was executive vice president and chief financial officer for the newly combined ViacomCBS, where he was in charge of all financial operations. Prior to CBS and Viacom merging in December 2019, she was executive vice president and chief financial officer at CBS Corporation and worked for Showtime Networks Inc. for more than two decades.
Spade previously worked as an audit manager in PricewaterhouseCoopers’ Entertainment, Media, and Communications practice before joining Showtime Networks. AMC Networks said its board of directors is finalizing who will be named as a replacement, and an announcement will be made soon.
In addition to AMC, BBC America (operated through a joint venture with BBC Studios), IFC, SundanceTV, WE tv, IFC Films, and RLJE Films, AMC Networks’ brands include streaming services AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE.
The Company’s in-house studio, production, and distribution operation, AMC Studios, is responsible for titles such as “The Walking Dead,” the Anne Rice catalog, and the Agatha Christie library.