AT&T announced a sweeping restructuring of its WarnerMedia entertainment unit Monday,
The restructuring would better integrate the administrative operations of HBO and Turner, and conserve cash for programming.
“At a time when we must shift our investment focus to develop more content for specific and demanding audiences on emerging platforms, we can’t sustain a model where we invest one dollar more than necessary in the administrative aspects of running our business,” said WarnerMedia CEO John Stankey in a memo to staff obtained byWarnerMedia installed former NBC Entertainment Chairman Robert Greenblatt as chairman of a newly created WarnerMedia Entertainment and direct-to-consumer group.
The Warner Bros. group, which currently includes the film studio, Warner Bros. Television studio and the Warner Bros. Interactive games group, will add a new Global Kids & Young Adults business. That business brings together the family, kids and animation efforts across WarnerMedia, including Cartoon Network, AdultSwim and Boomerang. Otter Media and Turner Classic Movies also will be housed under this group, reporting to Warner Bros. Chairman Kevin Tsujihara.
WarnerMedia will consolidate all WarnerMedia Affiliates and advertising sales groups under one group, led by Gerhard Zeiler, the WarnerMedia chief revenue officer. Two high-profile executives, HBO Chairman and CEO Richard Plepler, and Turner President David Levy, announced their departures last week, ahead of the restructuring.I’m a Los Angeles-based senior editor for Forbes, writing about the companies and people behind the biggest disruption in entertainment since cable TV: streaming video. I write about the tech juggernauts, the legacy media companies and the startups pioneering new ways to re...
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