AMC Networks’ head of unscripted, Marco Bresaz, has exited the company amid cost-cutting moves made on the heels of the sudden departure of CEO Christina Spade.
Bresaz’s is the first high-profile cut made at the cabler since James Dolan, AMC Networks’ chairman, released a memo Monday, following the Spade news hitting, that “significant cut backs in operations” were coming shortly.
“As I am sure you are aware our industry has been under pressure from growing subscriber losses. This is primarily due to ‘cord cutting,’” Dolan said in a memo to staffers at the time. “At the same time we have seen the rise of direct to consumer streaming apps including our own AMC+. It was our belief that cord cutting losses would be offset by gains in streaming. This has not been the case. We are primarily a content company and the mechanisms for the monetization of content are in disarray.”
More to come…
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