AMC Networks CFO Patrick O'Connell to Depart in March
AMC Networks announced on Thursday that Chief Financial Officer Patrick O'Connell will depart in March to pursue opportunities outside the media industry. O'Connell will remain until the conclusion of the fourth-quarter and full-year 2025 earnings calls, and the company has begun searching for his successor. Meanwhile, AMC announced the relaunch of the Sundance Now streaming platform, focusing on independent films, at a monthly price of $7.99.
Key Points
- AMC Networks CFO Patrick O'Connell to depart in March, seeking"opportunities outside the media industry", the company announced Thursday in a press release and securities filing.
- O'Connell will remain in his role until the company's fourth-quarter and full-yearearnings callconcludes, and AMC has initiated a search for his successor. AMC has not yet announced a fourth-quarter earnings release date.
- AMC Networks CEO Kristin Dolan said in a statement that O'Connell is a "trusted colleague and steady leader who has been instrumental in supporting our strategic priorities and positioning the company for continued success. His decision to pursue new opportunities outside the media industry has our full support, and we wish him all the best in his next chapter."
In-Depth Analysis
O'Connell has served as the entertainment network company's finance chief since 2022, previously holding the role of CFO at retail brand Essor, according to his LinkedIn profile. His past experience includes two years as Executive Vice President of Corporate Development at CBS Corporation and 13 years as a Managing Director at Goldman Sachs.
His departure comes as the entertainment network company continues its transition from cable TV to streaming and works to expand its streaming services and offerings. Also on Thursday, AMC announced the relaunch of "Sundance Now," which according to IndieWire will focus onindependent films, rather than scripted series.
The relaunched platform—announced the same day, coinciding with the Sundance Film Festival in Park City, Utah—will feature new monthly films and premieres of recent releases, priced at $7.99 per month, according to AMC Networks' Thursday press release.
"As audiences have more choices and higher expectations, we want to recreate the festival experience, showcasing programming curated by top curators across genres," Scott Shooman, head of AMC Networks' IFC Entertainment group, said in a statement in the press release.
CEO Dolan said in a statement in the November 7 earnings press release that AMC's third quarter of 2025 was "a key milestone in our transformation from a cable network business to a global streaming and technology-driven content company."
For the quarter ended September 30,streaming subscribers grew 2.8% year over year, reaching 10.4 million. AMC also reported streaming revenue up 14% year over year to $174 million, primarily attributed to "the impact of price increases across our services," according to its third-quarter earnings report.