The parent companies of Lifetime, Hearst Corp. and The Walt Disney Co. (DIS) announced that president and CEO of the network, Betty Cohen, resigned. The talk around the industry has been that the companies have been interviewing with potential replacements for awhile.
Her exit came in an odd fashion though, as she made the embattled network look like it was in great health at an upfront presentation recently. That would have caused a lot of feedback from advertising agencies that wouldn't have helped her at all.
In the short two years at the network, her time there was a disaster for them. Not only did the ratings drop in the double-digits, but there were no significant new hits and the first drop in revenue in its 23-year history.
Lifetime used to be the most-watched cable network, now it's in the No. 8 position in overall viewers, with a 17 percent drop in its core female 18-49 demo.
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