WSJ US BusinessAMC Networks CEO Josh Sapan Steps Down After 26-Year Run

August 24, 20210
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undefined AMC Networks Inc. Chief Executive Josh Sapan is stepping down, the company said Tuesday, capping a 26-year run during which he shepherded hits including “Mad Men” and “The Walking Dead” and masterminded the company’s foray into video streaming.

Mr. Sapan, 70, will be replaced in the interim by Matthew Blank, the former chairman of Showtime Networks and a senior adviser at the Raine Group, a merchant bank. The company said it would conduct a search for a permanent replacement for Mr. Sapan.

Mr. Sapan will become executive vice chairman of AMC Networks, advising the company on its video-streaming efforts.

He helped transform AMC Networks from a sleepy network known for airing classic movies into a TV tastemaker that took risks on critically acclaimed shows. On his watch, the company greenlighted “Mad Men,” “Breaking Bad” and “The Walking Dead,” which helped define the rise of prestige television.

Mr. Sapan is stepping aside from AMC during a period of upheaval for the media industry. The rise of video-streaming services such as Netflix Inc. and Amazon.com Inc.’s Prime Video has pressured the traditional TV business, which for decades relied on ever-increasing growth in advertising and subscription revenue.

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