Frank Biondi Joins Board at AMC Networks - Broadcasting & Cable

Frank Biondi Joins Board at AMC Networks

Former NBC head Wright resigns
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AMC Networks

AMC Networks said it appointed entertainment industry veteran Frank Biondi as a member of its board of directors.

After Biondi was named, the board accepted the resignation of former NBC Universal CEO Robert Wright, the company said in an SEC filing.

Biondi was a director of Cablevision Systems until 2016, when the Dolan family sold it to Altice. The Dolans remain controlling shareholders of AMC.

Biondi was also CEO of Viacom, CEO of Universal Studios, CEO of Coca-Coal Television and CEO of HBO over the course of his career.

“In light of Mr. Biondi’s experience as a senior executive and director of other public companies, and his knowledge of the industry, our board concluded that Frank J. Biondi, Jr. should be appointed as a director of the company, AMC said in the filing.

AMC also said it entered into new employment agreements with Sean Sullivan, executive VP and CFO, and James Gallagher, executive VP and general counsel.

In addition to salaries and bonuses, Sullivan received a one-time award of restricted stock units with a target value of $6 million, and Gallagher received a $4 million award.

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