- 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.
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