AMC Networks named Kristin Dolan, wife of executive chairman James Dolan, as the media company’s new CEO.
Kristin Dolan, 56, was chief operating officer at Cablevision Systems before the family sold it in 2015 and has served as a director of AMC Networks, which was spun off from Cablevision and is still controlled by the Dolan family. Most recently, Kristin Dolan has been CEO of 605, an audience measurement and data analytics company.
AMC’s previous CEO, former CFO Christine Spade departed in November after three months in office. After her departure, James Dolan announced there would be “large scale layoffs” at AMC, and about 20% of the staff was dismissed.
James Dolan noted that the company — best known for high-profile shows like The Walking Dead, Breaking Bad and Mad Men — was suffering from the industry-wide pressure caused by cord-cutting and that revenue losses at its cable networks were not yet being offset by growth at its subscription streaming services.
AMC is scheduled to report fourth-quarter earnings on Friday.
Also: AMC Restructures Ad Sales Unit Ahead of Upfront Market
“Kristin is a proven executive and operational leader with a track record driving organizational change, a history managing subscription-based businesses, and a deep understanding of audience engagement and advertising,” James Dolan said in making the announcement.
“These are areas of critical importance as we transform our company and monetize our high-quality content,“ he said. “With her considerable experience and knowledge of the company, Kristin is the ideal person to lead AMC Networks into its next chapter as we navigate this transformative period in the industry.”
According to a filing with the Securities and Exchange Commission, Kristin Dolan will receive a minimum base salary of $2 million and an annual bonus targeted at 200% of salary. She will also be eligible for long-term equity and other incentives with a target value of at least $3.75 million.
She will also get a special award of restricted stock units valued at $6 million.
“It’s a privilege to join a company with a long legacy of engaging audiences with excellent storytelling and world-class brands,” Kristin Dolan said. “It’s also where I started my career in the industry. I look forward to bringing my broad experience — across programming, cable operations and, most recently, utilizing data to reimagine television advertising — to leverage AMC Networks’ strong assets, drive the next phase of the company’s growth, and build shareholder value in the coming years.”
Kristin Dolan is also a director of The Wendy’s Co. and Revlon Inc. and the Dolan family’s Madison Square Garden Co. ■
