EXCLUSIVE: At a time of growing questions about Epix’s prospects, here’s one thing that’s secure: CEO Mark Greenberg has signed a new multi-year contract to stay at the premium network.
Greenberg created the business plan for Epix — owned by Lionsgate, Viacom’s Paramount, and MGM — and shepherded it since its launch in 2009.
There’s no word on how long the contract lasts, or what options Greenberg has if there’s a change in Epix’s ownership structure.
That could be important: His contract renewal comes as two of of the three owners are preparing to forge alliances with rival premium networks. Lionsgate is about to buy Starz. And Viacom is considering a merger with CBS, which owns Showtime.
Lionsgate CEO Jon Feltheimer told Wall Street analysts last night that Epix is “having a fantastic year…returning cash to all of the partners, [with] strong EBITDA,” a measure of an operation’s profitability.
Still, the studio chief did not rule out the possibility of selling its Epix stake following the Starz deal.
“Look, we own 100% of Starz. We have a shade under 32% of Epix. That’s all I’ll say about that,” Feltheimer said..
Epix offers feature films from its parent companies, and Greenberg has built on that foundation by ordering documentaries, music and comedy specials.
And last month the service added its first original scripted series: the political satire Graves, and spy-thriller Berlin Station.
Next week production begins on a third original series, Get Shorty, based on Elmore Leonard’s novel about mobsters who become dazzled by the glamour of Hollywood.
“Epix has seen tremendous success in advancing and evolving to meet consumer needs,” Greenberg says. “I am proud of our accomplishments and excited to continue leading our voyage as President and CEO.”
MGM chief Gary Barber says Greenberg’s contract renewal is “a testament to his leadership.”
And Paramount CEO Brad Grey says the Epix chief “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.”