Step one in WarnerMedia’s reconfiguration in an effort to compete with deep-pocketed content material insurgents together with Amazon and Apple got here Monday with the announcement from CEO John Stankey of an anticipated government and asset realignment.
The shake-up noticed HBO CEO Richard Plepler exit the corporate and former NBC Leisure chairman Robert Greenblatt employed as chairman overseeing leisure property (together with HBO) and upcoming direct-to-shopper properties (set to launch in within the fourth quarter), whereas CNN chief Jeff Zucker added sports activities to his portfolio and Warner Bros. head Kevin Tsujihara added world children and younger adults content material to his purview.
In an interview with The Hollywood Reporter, Stankey burdened that the adjustments should not be streamlining efforts; AT&T has taken on mountains of debt ($180 billion) to amass Time Warner for $81 billion and spent thousands defending the merger towards a Justice Division enchantment, finalized lower than per week in the past.
“What we did immediately just isn’t about layoffs and price-reducing,” Stankey mentioned Monday. “It’s about getting the group configured to extra elegantly put money into our content material and use it throughout a wide range of distribution platforms,” Stankey spoke about breaking down silos, his aspirations for WarnerMedia’s OTT platforms and why he by no means thought-about letting Jeff Zucker go.