Mark Greenberg Stepping Down as Epix CEO

Mark Greenberg - Getty - H 2016
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His departure follows MGM acquiring full control of the premium cable channel for $1 billion.

Mark Greenberg is stepping down as president and CEO of Epix, a move that follows Metro-Goldwyn-Mayer acquiring the premium cable channel from co-venture partners Viacom and Lionsgate for $1.031 billion.

"As we have completed the integration of Epix into MGM, Mark Greenberg, the founding CEO of Epix, has decided to leave the company to pursue other opportunities in the media and entertainment industry," Gary Barber, chairman and CEO of MGM, wrote Friday morning in an internal memo to studio employees that was obtained by The Hollywood Reporter.

Greenberg last year extended his employment agreement with Epix just as speculation swirled around the future role of the Viacom and Lionsgate as partners.

“Founding Epix and building it over the past nine years into a thriving and successful business has been one of the great accomplishments of my professional life," Greenberg said in his own statement. "With the completion of the integration of Epix into MGM, I have decided that I am ready to move on to other interesting and exciting opportunities in the media and entertainment industry that will allow me to tap into my entrepreneurial spirit and build on my experience at Epix," he added.

Epix will be managed on an interim basis by Monty Sarhan, executive vp programming, strategy and enterprises, reporting to Barber at MGM.

Greenberg created the business plan and strategy that led to the launch of Epix in October 2009. The MGM deal for Epix followed Lionsgate acquiring Starz.