Starz president of sales and marketing Robert B. Clasen was named president and chief operating officer.

Sie, who recently turned 68, first announced a year ago his intention to retire from the company. At that time he said he was delaying retirement only long enough to see subscription video-on-demand (SVOD), a concept he pioneered, become a reality.

"It is time to turn the reins over to a new generation. I am confident they will move Starz to new heights," Sie added. "I will continue to retain a very keen personal interest in the success of Starz and I am always available to advise as needed."

Recognized as one of a small group of visionaries who built the cable television industry, Sie has held key positions at leading technology, operations and programming companies. He played a central role in many of the key cable and satellite milestones of the past third of a century. These include the development of two-way cable television, the creation of the Showtime premium television channel, the development of urban cable systems, the funding of numerous programming networks such as the Discovery Channel and BET and the creation of the digital television standard in the US. He founded Starz Encore Group in 1991. Last year he was inducted into the Cable Television Hall of Fame.