AMC Networks names board chair James Dolan its interim executive chairman
This update corrects Dolan's title.
AMC Networks Inc. said late Monday that it has appointed board chair James Dolan its interim executive chairman, giving him oversight of the company until a new CEO is named. The appointment follows the departure last week of Chief Executive Christina Spade, who joined AMC in September, and news that the company was planning layoffs. Dolan will not receive any additional compensation in connection with the appointment, the company said. He will serve as interim chairman until March 6 or until the board appoints a permanent CEO, whichever comes first, the media company said. Shares of AMC Networks were flat in the extended session Monday after ending the regular trading day down 2.4%. AMC Networks expects between $350 million and $475 million in restructuring charges related to layoffs and other cost cuts, it said last week.
(END) Dow Jones Newswires
December 06, 2022 10:31 ET (15:31 GMT)
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