AMC Networks Hunts For Permanent CEO As Veteran Chief Resigns Abruptly

AMC Networks Inc AMCX appointed former Showtime Networks Inc's Matthew Blank as the interim CEO effective September 8. The company had initiated a search for a permanent CEO.
CEO Josh Sapan transitioned to the role of Vice-Chairman after 26 years in the position.
Sapan is credited for AMC's transformation, pitting it against streaming powerhouses like AT&T Inc's T, HBO, and Netflix Inc NFLX, Bloomberg reports.
AMC Networks also fueled takeover speculations due to its relatively small size in a consolidating media landscape.
AMC Networks reported a Q2 beat this month.
Price Action: AMCX shares traded lower by 1.03% at $48.82 on the last check Tuesday.