AT&T announces sweeping restructuring of Warner Media
The move is seen by many as an attempt to streamline operations as the company prepares to take on Netflix.
As the competition in the streaming space grows, AT&T has announced a sweeping restructuring of its Warner Media entertainment unit. The move is seen by many as an attempt to streamline operations as the company prepares to take on Netflix.
According to reports, the restructuring would better integrate the administrative operations of HBO and Turner, and would better allocate funds for programming. These changes are expected to lead to cost-cutting and layoffs, the Wall Street Journal reports.
As part of the restructuring, CNN Worldwide President Jeff Zucker will gain expanded responsibilities as Chairman of the newly created WarnerMedia News & Sports unit. This group will unify live news and sports content of CNN, Turner Sports, Bleacher Report and the AT&T Regional Sports Networks.
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.
Reports further added that WarnerMedia will consolidate all WarnerMedia Affiliates and advertising sales groups under one group, led by Gerhard Zeiler, the WarnerMedia chief revenue officer.
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