AceShowbiz - Sandra Stern’s office is far from the quiet space one might expect from someone nearing retirement. Instead, it is alive with scripts and adorned with numerous framed photos and awards, marking a remarkable career spanning over four decades in the entertainment industry. More than half of that time was spent at Lionsgate, where she will soon conclude her tenure as vice chairman of the television group.

Stern has decided to step down from her leadership role by March 31, though she will remain on as a consultant for another year. Her next chapter includes extensive travel plans, a stark contrast to the busy office she currently inhabits. Reflecting on her decision, she shares that the choice to retire was not immediate. “You know, I was terrified,” she admits, recalling an earlier window when a buyout option was available. Many colleagues close to retirement took advantage of it, but she felt unready at the time.

Her mindset shifted this past summer when she informed Lionsgate CEO Jon Feltheimer of her intention to step away at the end of her contract. She felt confident about the timing and proud of the legacy she would leave behind. Under her leadership, Lionsgate has been responsible for breakout hits such as Seth Rogen’s Emmy-winning The Studio, as well as popular series like The Hunting Wives, Ghosts, and The Rookie. These successes follow a rich history of acclaimed shows including Mad Men, Weeds, and Orange Is the New Black.

As she approaches her final day, the highest-ranking woman at the studio sat down for an extensive exit interview, providing insights into her career, the evolving industry, and the future of television.

When asked about memories flooding back since making her retirement decision, Stern fondly recalls a pre-Emmy party for Orange Is the New Black hosted by Ted Sarandos. “It was just us and the cast, and everybody, including Ted, was dancing. Ted’s a great dancer, by the way,” she laughs. “He loves to party and he loves TV. That’s what I’ve always felt about the industry — it was a real community. Even as TV grew bigger, it remained a personal business where you could get up with Ted in the middle of the night and dance.”

The conversation turns to the present day, where many lament that television is no longer as enjoyable as it once was. Stern agrees, acknowledging that the fun has diminished. But she points out a full-circle moment she experienced at the recent Netflix Golden Globes party. “I didn’t know anyone in the room, which never used to happen,” she says. Yet, she saw Ted Sarandos engaging joyfully with the cast from The Hunting Wives, taking selfies and celebrating television’s talent. “He still loves TV and the people in it. If you’re not having fun, don’t do it,” she notes, highlighting a generational respect for entertainment’s joy.

Given the challenges in today’s business, the interviewer asks how she tries to pass that same joyful ethos to the next generation of TV executives and creators. Stern admits the industry is tougher now than ever before. She traces her start in 1986 alongside Jon Feltheimer at New World, reminiscing about the MIPCOM parties where the business was as much about relationships as deals. “We didn’t have much money, but the parties were an opportunity to connect socially,” she explains. “People didn’t come to look at our posters; they came to get invited to the party or to tell us how great it was. Once we got them in the door, we could sell them something.”

That social, organic approach to business, she says, fostered stronger relationships. “You feel differently about someone you made a deal with if you were drinking champagne and dancing with them at 3 a.m. the night before.” However, she acknowledges that the industry has matured and become more transactional, which has led to a loss of that fun.

Reflecting on the timing of her departure, Stern admits she is leaving at the right moment. She recounts a recent lunch with Ken Ziffren, a mentor figure she calls “my rabbi.” They discussed the industry’s transformation and the challenge of adapting from a broadcast, linear model to streaming. Ziffren told her, “The business is at an inflection point,” and that he didn’t know anyone else capable of leading the change except her. Her response? “In that case, I’m leaving at the right time because I do not want to.”

The interviewer notes that this sounds like a tough position to be in, but she insists that the challenge and the potential for creating new business models still excite her — just not enough to keep her in a leadership role indefinitely.

Stern emphasizes how much she has loved the TV business, but recognizes that many younger executives didn’t grow up in an industry filled with joy. They face a difficult environment where launching shows and making them profitable is a continuous struggle. Her mission has been to instill the sense of joy and community she experienced into this new generation.

One way she does this is by encouraging personal interactions over impersonal business dealings. She shares a story from about six weeks ago, when Lionsgate was trying to get a pilot for The Rookie spinoff greenlit at ABC. Despite being close (“on the 1-yard line”), the order wasn’t coming through. With the team lobbying heavily, she reached out to Craig Erwich, who runs ABC and Hulu’s TV group, and arranged a face-to-face meeting.

“I picked up bagels and went to his office,” she recalls. “He looked at me and said, ‘Where’s the lox?’ I told him, ‘For a series order, you get lox. For a pilot, you get bagels.’” The casual meeting quickly led to an order, proving the power of personal connection. Erwich remarked that such direct, informal conversations have become rare but are crucial for building relationships in the industry.

Stern contrasts this with the modern norm of executives communicating strictly through business affairs teams and emails. “Sometimes, all it takes is a two-minute conversation to clear up hesitation or solve an issue,” she says. “That’s how we grew up — handling relationships directly and personally.”

Throughout her exit interview, Sandra Stern exudes a clear affection for the television business and a thoughtful perspective on its evolution. She leaves behind a legacy of leadership, a string of successful shows, and a hopeful message that joy and personal connection still have a place in the complex world of entertainment.