(Bloomberg) — AMC Networks Inc. said longtime Chief Executive Officer Josh Sapan, is stepping down, ending a long tenure atop the cable channel owner.
Sapan, 70, had been president and CEO for 26 years, where he transformed the media company into a home for prestige dramas like “The Walking Dead,” “Mad Men” and “Breaking Bad.”
He will become executive vice chairman of the company, AMC Networks said in a statement Tuesday.
Matthew Blank, a former chief executive of Showtime Networks, will serve as interim CEO while the company searches for a replacement.
AMC wasn’t trading before the stock market opened in New York. The shares had climbed 38% this year through Monday, while the S&P 500 rose 19%.
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