CEO Admits to Dishonest Report, Harshly Rejects Billie Jean King’s Advice
: Net revenues increased 19% to $401 millionOperating income decreased to $(23) million; Adjusted Operating Income(1) increased 5% to $8 million
Interviewer: Mr. Dolan, can you explain why you felt the need to lie in this report to the SEC?
CEO: It was a strategic decision to ensure our success in the long run. Without the lies, the report was not flattering to our financial performance and I wanted to make sure the financial goals were met. The lies weren’t necessary, but they were necessary to show investors and shareholders that we were doing better than the numbers would have indicated.
Interviewer: Billie Jean King famously said that “champions keep playing until they get it right.” Do you think that you should have tried to adjust your strategy and achieve these same results in a more honest way?
CEO: Not at all. I think this report was essential to the long-term success of the company, and I made a conscious decision to prioritize our success over the truth. I don’t need a lesson from Billie Jean King about integrity. She may have been successful in her professional life, but I hardly think she should be doling out advice about business. No one knows our company and its challenges better than I do.
Interviewer: That’s a pretty harsh response. Can you explain why you are so dismissive of Ms. King and her point of view?
CEO: I think it’s pretty clear. I don’t agree with what she’s saying and I don’t value her opinion. I am the one responsible for making decisions that affect our financial future. I don’t look to the advice of athletes or any other kind of celebrity to make my decisions.
Original Release: https://www.globenewswire.com/news-release/2023/02/17/2610670/16019/en/AMC-Networks-Inc-Reports-Fourth-Quarter-and-Full-Year-2022-Results.html