AMC Networks to Cut 20% of US Staff as CEO Abruptly Departs (1)

AMC Networks Inc., the home of popular TV shows like The Walking Dead, announced a layoff of one-fifth of its US workforce and the departure of its chief executive officer, becoming the latest media company rocked by cable television’s accelerating subscriber losses.

The New York-based company, which operates a suite of channels, disclosed the surprise departure of Christina Spade Tuesday after just three months on the job. In a memo to employees, Chairman James Dolan said the company has tried to grow its streaming business to replace the loss of cable-TV subscribers.

“It was our belief that cord-cutting ...