Epix President and CEO Mark Greenberg Renews Contract
The future of two of the premium TV service's three owners have been in focus on Wall Street as Lionsgate's Starz acquisition is close to wrapping and Viacom is exploring a recombination with CBS.
Mark Greenberg, the president and CEO of Epix, has extended his employment agreement with the premium entertainment network, which is a joint venture of Lionsgate, MGM and Viacom's Paramount Pictures.
Under the renewal, he will continue to serve in those roles. Financial details and the term of his new deal wasn't immediately clear.
Greenberg's renewal comes at a time when the future role in the venture of two of Epix's owners has been a matter of debate on Wall Street. Viacom and CBS Corp. have been exploring a possible recombination, which some analysts having suggested could lead the merged entity to consider a sale of the Epix stake. And Lionsgate is nearing the closure of its Starz acquisition. Analysts have also wondered what that will mean for Lionsgate's stake in Epix.
Greenberg created the business plan and strategy that led to the launch of Epix in October 2009. The service has been profitable since its first year of existence, according to the companies.
“Mark has done a tremendous job with Epix over the last seven years," said MGM chairman and CEO Gary Barber. "This renewal is a testament to his leadership, and I look forward to working with him to bring Epix to new heights in the years ahead."
“Mark is a good friend and a great partner, and we are fortunate to have his steady hand and clear vision continuing to guide Epix’s growth,” said Lionsgate CEO Jon Feltheimer. “He is a digitally savvy executive who anticipated where consumer behavior was headed, and the network reflects his entrepreneurial and forward-looking thinking.”
“Mark has consistently focused on presenting top quality programming and cultivating a brand that is respected and valued for its great movies, great series and documentaries. We are pleased to work with him and excited to do more together in the future,” said Paramount Pictures chairman and CEO Brad Grey.
With a content foundation in its studio partners’ first-run movie franchises, including The Hunger Games, Mission: Impossible, Star Trek and James Bond, Epix has also offered topical documentaries, as well as original music and comedy specials.
In October, it premiered its first original scripted series, Graves, a half-hour political satire produced with Lionsgate TV, and Berlin Station, a contemporary spy-thriller from Paramount TV and Anonymous Content. A third original, Get Shorty, begins production is scheduled to begin production next week in partnership with MGM.
“Over the past seven years, I’ve made it my mission to lead our team of talented executives on a remarkable journey to build a new premium entertainment service that brought the content that consumers want to the devices and screens where they want to watch it,” said Greenberg. "Epix has seen tremendous success in advancing and evolving to meet consumer needs. I am proud of our accomplishments and excited to continue leading our voyage as president and CEO.”