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Amazon Adds Former MTV CEO Judy McGrath to Board (Re/code)
As Amazon continues its push into becoming a big creator of online TV shows, it’s adding some serious media expertise to its board. The company said on Friday that it had elected longtime former MTV CEO Judy McGrath to its board of directors, effective Oct. 1. Deadline Hollywood As an incentive to stay, she received rights to 2,520 shares convertible at a rate of 840 a year over three years beginning August 2015. Variety Since June 2013, McGrath has been president of Astronauts Wanted: No Experience Necessary, a digital-content joint venture between McGrath and Sony Music Entertainment. She had run Viacom’s MTV Networks from July 2004 until May 2011, and had been part of the startup team that launched the music cabler in 1981. THR McGrath was also appointed to the Leadership Development And Compensation Committee at Amazon, according to a Friday SEC filing. On Friday, Amazon’s shares were trading at $308 each. Amazon launched a streaming music service called Prime Music earlier this year, and it said a week ago it will be spending $100 million on original content this quarter to beef up its Prime Instant Video Service, which competes with Netflix, Hulu and other streaming video services. Forbes The appointment makes McGrath the third woman out of 10 current directors to sit alongside CEO and chairman Jeff Bezos, joining Patricia Stonesifer, CEO of non-profit Martha’s Table, and Jamie Gorelick, former deputy U.S. Attorney General.