AMC Networks CEO Josh Sapan Sets New Two-Year Contract

AMC Networks president-CEO Josh Sapan has a set a new contract to remain at the helm of the company through the end of 2022.

Sapan has headed AMC Networks since its inception in 2011, when the company was spun out from Cablevision. AMC is home to a clutch of prominent cable channels — including AMC, SundanceTV and BBC America — but it is increasingly embracing niche streaming services amid the broader changes in the pay TV landscape.

Sapan’s base salary of $2 million a year is unchanged from his previous pact. The new deal was set on Dec. 11, AMC said Friday in a Securities and Exchange Commission filing.

The pact specifies that in 2022 AMC and Sapan both have the option of shifting his role to vice chairman so long as each side gives the other 90 days notice.

More to come