According to a memo from James Dolan, CEO of MSG Entertainment, (via IndieWire), the company that owns AMC and AMC Networks, plans are in place for “significant cutbacks in operations” and “large-scale layoff[s].” Here’s an excerpt of the memo reportedly addressed to AMC Networks staff members: AMC Networks saw its CEO, Christina Spade, step down in September. Spade was less than three months into the role where she was expected to last through 2025. The exit resulted in AMC Networks’ stock dropping by 6%. 2022 was an excellent year for AMC as it saw several of its most-watched shows enjoy peak viewership as they reached their conclusion. AMC’s most-watched show, The Walking Dead, has finally ended after more than a decade of dominance. Other popular AMC shows that called curtains this year include Better Call Saul and Killing Eve. But, now that the said trio is no longer, there’s a certain hint of uncertainty surrounding what else AMC has to offer. We doubt the plethora of The Walking Dead spin-offs, both confirmed and rumored, are enough to keep eyes glued to the platform. Looking ahead, AMC is betting on Interview With a Vampire, Mayfair Witches, Invitation to a Bonfire, and Echoes, to steady the storm while it waits for its next big hit. If things don’t get better, AMC’s stock, which has already dipped 40% this year, will drop further.
