The restructuring charges arrive shortly after the company lost its CEO, and as it began layoffs of as many as 20 percent of staff.
It was not immediately clear which titles are impacted by the write down, but AMC says that “the programming assessments pertain to a broad mix of owned and licensed content, including legacy television series and films that will no longer be in active rotation on the Company’s linear or digital platforms.”
“The Company may realize some future licensing and other revenue associated with some of the owned titles,” it added. The company adds that the restructuring plan is ongoing and may lead to “further strategic assessments of programming that could result in additional charges,” but that the “restructuring initiatives under the Plan are expected to be substantially completed by the end of 2023.”
AMC Networks has had a difficult week, with CEO Christina Spade stepping down after less than 3 months on the job, and chairman Jim Dolan
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AMC Networks SVPs David Stefanou & Marco Bresaz Among Creative Executives Impacted By LayoffsEXCLUSIVE: Following AMC Networks’ shock announcement yesterday that the company is cutting 20% of its U.S. staff — or about 200 people — with its new CEO Christina Spade also dep…
Read more »
AMC Eyes Layoffs as Its Streaming Services Aren’t Making Enough MoneyAn internal memo from the corporate owner of the network claims that AMC's ability to monetize content is in ‘disarray.’
Read more »
Gangs of London: Sky, AMC Series Renewed for Bloody Third SeasonGangsOfLondon, the hit SkyUK series co-produced by AMCStudios in the US, has been given the green light for a bloody third season. / AMCPlus AMCTV AMCNetworks SkyUK AMCPlus
Read more »
AMC Networks CEO steps down after less than three months as network plans staff cuts | CNN BusinessAMC Networks is looking for a new CEO and plans to lay off 20% of its US workforce.
Read more »
AMC Networks To Cut 20% Of U.S. Workforce As Cord Cutting, Streaming Costs, Economic Jitters Roil MediaA media sector squeezed by streaming losses, anemic stocks, layoffs and executive turmoil unveiled its latest casualties today – 20% of AMC Networks’ U.S. staff, or about 200 people, along with the departure of CEO Christina Spade
Read more »
Social Networks Are Going Much, Much SmallerIf the disease is “scale at all costs,” maybe intentional smallness can be the cure.
Read more »