Turner’s CEO will be leaving the company, and Time Warner Inc. will become known as WarnerMedia, Deadline reports, citing a staff memo from AT&T Entertainment chief John Stankey about changes that will be taking place in connection with AT&T’s acquisition of Time Warner.
Following the exit of Turner CEO John Martin, three top executives will report to Stankey: David Levy, president of Turner, Gerhard Zeiler, president of Turner International, and Jeff Zucker, president of CNN Worldwide.
“Stankey announced the high-profile departure as he talked about the opportunities ahead for the combined AT&T-Time Warner, and the new operating structure for the media company,” Deadline reports. “He said there will be a series of meetings in New York, Atlanta and Los Angeles to talk about ‘the road ahead’ and address questions.”
Deadline adds: “One thing that will change is the Time Warner Inc., which will be replaced with WarnerMedia. Stankey explained the holding company’s brand would, by design, become less prominent than the media company’s established brands: HBO, CNN, Warner Bros. and TNT.”
Martin oversaw the entire Turner portfolio, including the CNN networks, HLN and CNN.com, TNT, TBS, TCM, truTV, Cartoon Network and Adult Swim, and Turner Sports.
We encourage readers to click on the link above to Deadline to read Stankey’s full memo.