Following two high-level executive ousters — with Richard Plepler out as CEO of HBO and Turner President David Levy also getting his walking papers — more turmoil is expected at WarnerMedia as AT&T continues to put its stamp on its new acquisition, Variety reports.
The report notes that “the telecom parent’s aggressive moves to shake up the media giant’s senior management ranks and begin consolidating key divisions have left company executives reeling and bracing for further turmoil.”
The departures of Plepler and Levy were quickly followed by the hiring of former NBC Entertainment boss Bob Greenblatt to oversee WarnerMedia’s combined TV platforms and its upcoming streaming service.
“The moves are widely viewed as a precursor to the decampment of more executives, hundreds of layoffs and other structural changes as AT&T continues to realign its prized asset,” Variety reports. “Already, AT&T has more or less combined its HBO and Turner TV units.”
The report adds: “Even in a media sector where the pending merger of Fox with Disney, and the likely reunion of the on-again, off-again shotgun wedding of CBS and Viacom, have made uncertainty the norm, the shake-up at WarnerMedia is seismic — and it promises to rock the industry further in the weeks to come.”
We encourage readers to click on the link above to Variety to read the full report.