AMC Networks Discloses 2021 Pay For CEOs: Former Boss Josh Sapan Nets $15.3M, Interim Chief Matt Blank $7M

Matt Blank, interim CEO of AMC Networks, made just shy of $7 million in total compensation in 2021, according to a proxy filing with the SEC.

Blank’s predecessor, longtime company veteran Josh Sapan, took home nearly $15.3 million, up from his 2020 level of $11.8 million but below his $20.2 million package in 2019. Sapan is now executive vice chairman of the company.

The change in the corner office took effect last September 8.

Formerly the CEO of Showtime, Blank received a base salary of $630,136 from AMC. He got another $4.5 million in the form of a stock award and much of the rest as a non-equity incentive plan payment.

Neither payday ranks near the top of the media business, which saw multiple nine-figure compensation awards in 2021.

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Ed Carroll, who capped a long run at the company by departing last October as chief operating officer, got $8.2 million last year. Christina Spade, who assumed the COO title last November and also serves as AMC’s chief financial officer, took home $7 million.

AMC Networks, whose cable holdings include AMC, Sundance TV, We TV, IFC and BBC America, is joining many of its legacy peers in exploring streaming. Its strategy has been to focus on targeted audiences with a portfolio of niche services like Acorn TV, Shudder and AMC+.

The company has set its annual shareholder meeting for June 16, according to the proxy. Among the agenda items for the meeting will be the re-election of board members. With the Dolan family long exerting control over the shares of AMC Networks, which was created from the former Cablevision subsidiary Rainbow Media, three generations of the family have been serving on the board. Along with former Cablevision CEO and industry pioneer Chuck Dolan, 95, directors also include four of his children as well as daughter-in-law Kristin and grandson Aidan, who joined the board last year at the age of 29.

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