The company — home of such cable networks as AMC, IFC and Sundance TV, as well as such streamers as AMC+, Acorn TV and Shudder — didn’t immediately provide details about the reasons behind the move and said it was finalizing the process of picking a successor.
Across its brands, AMC Networks has about 10.8 million subscribers and the expectation is that subs will be at 12 million by year end with a plan to reach 20 million to 25 million by 2025. But cord-cutting is accelerating. In the latest quarter, the largest pay-TV providers in the U.S. saw a loss of 785,000 net video subscribers, compared to a loss of 650,000 in the year ago period, per a Leichtman Research tally.
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