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Wikipedia

WarnerMedia

April 10, 2023

"Time Warner" redirects here. For the former cable television operator in the United States separated from Time Warner in 2009, see Time Warner Cable.

Warner Media, LLC (traded as WarnerMedia) was an American multinational mass media and entertainment conglomerate. It was headquartered at the 30 Hudson Yards complex in New York City, United States.

Warner Media, LLC
30 Hudson Yards, WarnerMedia's last headquarters in New York City
WarnerMedia
Formerly
  • Time-Warner Inc.
    (1990–2001)
  • Time Warner Entertainment Inc. or Time Warner Entertainment Company, L.P.
    (1992–2001)
  • AOL Time Warner Inc.
    (2001–2003)
  • Time Warner Inc.
    (2003–2018)
TypeSubsidiary
Industry
Predecessors
FoundedJanuary 10, 1990; 33 years ago (1990-01-10)
Founder
DefunctApril 8, 2022; 12 months ago (2022-04-08)
FateMerged with Discovery, Inc.
SuccessorWarner Bros. Discovery
Headquarters30 Hudson Yards,
New York City
,
US
Area served
Worldwide
Key people
  • Jason Kilar (CEO)
  • Andy Forssell (Head of operations, Direct)
  • Ann Sarnoff (Chairwoman and CEO, Studios and Networks; Chairwoman and CEO, Warner Bros.)
  • Michael Bass, Amy Entelis and Ken Jautz (CNN interim co-heads)
  • Gerhard Zeiler (CRO; Chairman, International)
  • Tony Goncalves (President, Commercial; CEO, Otter Media)
Brands
Revenue US$35.63 billion (2021)
US$7.24 billion (2021)
Number of employees
25,600 (2015) 
Parent
  • Independent (1990–2018)
  • AT&T (2018–2022)
Divisions
  • WarnerMedia Studios & Networks
  • WarnerMedia News & Sports
  • WarnerMedia Sales & Distribution
  • WarnerMedia Direct
  • WarnerMedia International
Websitewarnermedia.com
Footnotes / references
[1][2][3][4][5]

It was established as Time Warner in 1990, following a merger between Time Inc. and the original Warner Communications. The company had film, television and cable operations. Its assets included WarnerMedia Studios & Networks (which consisted of the entertainment assets of Turner Broadcasting, HBO, and Cinemax as well as Warner Bros., which itself consisted of the film, animation, television studios, the company's home entertainment division and Studio Distribution Services, its joint venture with Universal Pictures Home Entertainment, DC Comics, New Line Cinema, and, together with CBS Entertainment Group[6], a 50% interest in The CW); WarnerMedia News & Sports (consisted of the news and sports assets of Turner Broadcasting, including CNN, Turner Sports, and AT&T SportsNet); WarnerMedia Sales & Distribution (consisted of digital media company Otter Media); and WarnerMedia Direct (consisted of the HBO Max streaming service).

Despite spinning off Time Inc. in 2014, the company retained the Time-Warner name from 1990, also becoming Time Warner in 2003, until 2018. In 2018, after AT&T's acquisition of Time Warner, the company was renamed Warner Media.[7] On October 22, 2016, AT&T officially announced that they intended on acquiring Time Warner for $85.4 billion (including assumed Time Warner debt), valuing the company at $107.50 per share.[8][9] The proposed merger was confirmed on June 12, 2018,[10] after AT&T won an antitrust lawsuit that the U.S. Justice Department filed in 2017 to attempt to block the acquisition,[11] and was completed two days later, when the company became a subsidiary of AT&T.[12] The company's final name was adopted a day later.[13] Under AT&T, the company moved to launch a streaming service built around the company's content, known as HBO Max. WarnerMedia refolded Turner's entertainment-based networks under a singular umbrella unit on August 10, 2020, through a consolidation of the WarnerMedia Entertainment and Warner Bros. Entertainment assets into a new unit, WarnerMedia Studios & Networks Group.[14][15] On May 17, 2021, nearly three years after the acquisition, AT&T decided to leave the entertainment business by announcing that it had proposed to relinquish its ownership of WarnerMedia and merge it with Discovery, Inc. to form a new publicly traded company, Warner Bros. Discovery. The deal closed on April 8, 2022.

The company's previous assets included Time Inc., TW Telecom, AOL, Time Warner Cable, AOL Time Warner Book Group, and Warner Music Group; these operations were either sold to others or spun off as independent companies. The company was ranked No. 98 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.[16]

History

Warner Communications (1972–1990)

Warner Communications Inc.
 
Warner Communications logo, designed by Saul Bass and nicknamed "Big W", used from 1972 to 1990. Since 2004, the stylized W has been used by Warner Music Group, which is no longer part of what is now Warner Bros. Discovery.
TypePublic
IndustryEntertainment
PredecessorKinney National Company
FoundedFebruary 10, 1972
FounderSteve Ross
DefunctJanuary 10, 1990
FateMerged with Time Inc.
SuccessorWarnerMedia
Headquarters
United States  
  7.965 billion (1986)
Number of employees
26.300 (1985)
Subsidiaries

On February 10, 1972, the entertainment assets of the Kinney National Company were reincorporated as Warner Communications due to a financial scandal involving price fixing in its parking operations.[17] Warner Communications served as the parent company for Warner Bros. Pictures, the Warner Music Group (WMG), Warner Books and Warner Cable during the 1970s and 1980s. It also owned DC Comics and Mad magazine. The European publishing division, which produced magazines and comics, was known as Williams Publishing; thanks to a prior acquisition (from Gilberton World-Wide Publications),[18] it had European-language branches in the United Kingdom,[19] Denmark,[20] Finland,[21] France,[22] Germany,[23] Italy,[24] the Netherlands,[25] Norway,[26] and Sweden.[27] Most of these publishers were sold off around 1979.

During its time as Warner Communications, the company made a number of further acquisitions. In 1979, Warner formed a joint venture with credit card company American Express called Warner-Amex Satellite Entertainment. This company owned such cable channels as MTV, Nickelodeon, The Movie Channel, and VH1 (which was launched in 1985 on the channel space left by Turner's Cable Music Channel). Warner bought out American Express's half in 1984 and sold the venture a year later to the original iteration of Viacom, which renamed it MTV Networks (now known as Paramount Media Networks). In 1982, Warner purchased Popular Library from CBS Publications.[28]

By the mid to late 1980s, Warner began to face financial difficulties. From 1976 to 1984, Warner Communications owned Atari, Inc., but suffered substantial losses due to the video game crash of 1983, and had to spin them off in 1984. Taking advantage of Warner Communications's financial situation, Time Inc. announced on March 4, 1989, that the two companies were to merge.[29]

During the summer of 1989, Paramount Communications (then Gulf+Western) launched a $12.2 billion hostile bid to acquire Time, Inc. in an attempt to end a stock-swap merger deal between Time and Warner Communications.[30] Time raised its bid to $14.9 billion in cash and stock. Paramount responded by filing a lawsuit in a Delaware court to block the Time Warner merger. The court ruled twice in favor of Time, forcing Paramount to drop both the Time acquisition and the lawsuit, and allowing the two companies to merge, which was completed on January 10, 1990.[31]

Time Warner (1990–2001) and Time Warner Entertainment (1992–2001)

US West partnered with Time Warner in 1993 to form what was later known as TW Telecom, initially known as Time Warner Communications (also utilized as the brand name for cable operation previously under the ATC name), in order to bring telephone via fiber to the masses. US West also took a 26% stake in the entertainment portion of the company, calling that division Time Warner Entertainment. US West's stake eventually passed to acquired cable company MediaOne, then to AT&T Broadband in 1999 when that company acquired MediaOne, then finally to Comcast in 2001 when that company bought the AT&T Broadband division. Comcast sold their stake in the company in 2003, relegating the name to a subdivision under Time Warner Cable.

On October 10, 1996, Time Warner acquired Turner Broadcasting System, which was established by Ted Turner in 1965. Not only did this result in the company (in a way) re-entering the basic cable television industry (in regards to nationally available channels), but Warner Bros. also regained the rights to their pre-1950[32][33] film library, which by then had been owned by Turner (the films are still technically held by Turner, but WB is responsible for sales and distribution),[34] while Turner gained access to WB's post-1950 library, as well as other WB-owned properties. The Turner deal also brought two separate film companies, New Line Cinema and Castle Rock Entertainment, both which were integrated into Warner Bros.[35] The Turner deal also gave Time Warner access to Metro-Goldwyn-Mayer (MGM)'s pre-May 1986 library.

Time Warner completed its purchase of Six Flags Theme Parks in 1993 after buying half of the company in 1991, saving it from financial trouble. The company was later sold to Oklahoma-based theme park operator Premier Parks under certain terms and conditions on April 1, 1998.[36]

Dick Parsons, already a director on the board since 1991, was hired as Time Warner president in 1995, although the division operational heads continued to report directly to chairman and CEO Gerald Levin.[37]

In 1991, HBO and Cinemax became the first premium pay services to offer multiplexing to cable customers, with companion channels supplementing the main networks.[38] In 1993, HBO became the world's first digitally transmitted television service.[39] In 1995, CNN introduced CNN.com which later became a leading destination for global digital news, both online and mobile.[40] In 1996, Warner Bros. spearheaded the introduction of the DVD, which gradually replaced VHS tapes as the standard format for home video in the late 1990s and early to mid-2000s.[41] In 1999, HBO became the first national cable television network to broadcast a high–definition version of its channel.[42]

AOL Time Warner (2001–2003)

"AOL Time Warner" redirects here. For the subsidiary of AOL Time Warner, see AOL.
See also: Dot-com bubble
 
Logo for AOL Time Warner (2001–2003)

In January 2000, America Online (AOL) stated its intentions to purchase Time Warner for $183 billion.[43] Due to the larger market capitalization of AOL, their shareholders would own 55% of the new company while Time Warner shareholders owned only 45%,[44] so in actual practice AOL had merged with Time Warner, even though Time Warner had far more assets and revenues. Time Warner had been looking for a way to embrace the digital revolution, while AOL wanted to anchor its stock price with more tangible assets.[45]

The deal, officially filed on February 11, 2000,[44][46] employed a merger structure in which each original company merged into a newly created entity. The Federal Trade Commission (FTC) cleared the deal on December 14, 2000,[47] and gave final approval on January 11, 2001; the company completed the merger later that day.[48] The deal was approved on the same day by the Federal Communications Commission (FCC),[46] and had already been cleared by the European Commission (EC) on October 11, 2000.[49]

AOL Time Warner Inc., as the company was then called, was supposed to be a merger of equals with top executives from both sides. Gerald Levin, who had served as chairman and CEO of Time Warner, was CEO of the new company. AOL co-founder Steve Case served as Executive Chairman of the board of directors, Robert W. Pittman (president and COO of AOL) and Dick Parsons (president of Time Warner) served as Co-Chief Operating Officers, and J. Michael Kelly (the CFO from AOL) became the chief financial officer.[50]

According to AOL President and COO Bob Pittman, the slow-moving Time Warner would now take off at Internet speed, accelerated by AOL: "All you need to do is put a catalyst to [Time Warner], and in a short period, you can alter the growth rate. The growth rate will be like an Internet company." The vision for Time Warner's future seemed clear and straightforward; by tapping into AOL, Time Warner would reach deep into the homes of tens of millions of new customers. AOL would use Time Warner's high-speed cable lines to deliver to its subscribers Time Warner's branded magazines, books, music, and movies. This would have created 130 million subscription relationships.

However, the growth and profitability of the AOL division stalled due to advertising and loss of market share to the growth of high-speed broadband providers. The value of the AOL division dropped significantly, not unlike the market valuation of similar independent internet companies that drastically fell, and forced a goodwill write-off, causing AOL Time Warner to report a loss of $99 billion in 2002 — at the time, the largest loss ever reported by a company. The total value of AOL stock subsequently went from $226 billion to about $20 billion.[51]

An outburst by Vice-Chairman Ted Turner at a board meeting prompted Steve Case to contact each of the directors and push for CEO Gerald Levin's ouster. Although Case's coup attempt was rebuffed by Parsons and several other directors, Levin became frustrated with being unable to "regain the rhythm" at the combined company and handed in his resignation in the fall of 2001, effective in May 2002.[52] Although Co-COO Bob Pittman was the strongest supporter of Levin and largely seen as the heir-apparent, Dick Parsons was instead chosen as CEO. Time Warner CFO J. Michael Kelly was demoted to COO of the AOL division and replaced as CFO by Wayne Pace. AOL Chairman and CEO Barry Schuler was removed from his position and placed in charge of a new "content creation division", being replaced on an interim basis by Pittman, who was already serving as the sole COO after Parsons' promotion.[53]

Many of the expected synergies between AOL and other Time Warner divisions never materialized, as most Time Warner divisions were considered independent fiefs that rarely cooperated prior to the merger. A new incentive program that granted options based on the performance of AOL Time Warner, replacing the cash bonuses for the results of their own division, caused resentment among Time Warner division heads who blamed the AOL division for failing to meet expectations and dragging down the combined company. AOL Time Warner COO Pittman, who expected to have the divisions working closely towards convergence instead found heavy resistance from many division executives, who also criticized Pittman for adhering to optimistic growth targets for AOL Time Warner that were never met. Some of the attacks on Pittman were reported to come from the print media in the Time, Inc. division under Don Logan.[54] Furthermore, CEO Parsons' democratic style prevented Pittman from exercising authority over the "old-guard" division heads who resisted Pittman's synergy initiatives.[50][55]

Pittman resigned as AOL Time Warner COO after July 4, 2002, being reportedly burned out by the AOL special assignment and almost hospitalized, unhappy about the criticism from Time Warner executives, and seeing nowhere to move up in firm as Parsons was firmly entrenched as CEO.[55] Pittman's departure was seen as a great victory to Time Warner executives who wanted to undo the merger. In a sign of AOL's diminishing importance to the media conglomerate, Pittman's responsibilities were divided between two Time Warner veterans; Jeffrey Bewkes who was CEO of Home Box Office, and Don Logan who had been CEO of Time. Logan became chairman of the newly created media and communications group, overseeing America Online, Time, Time Warner Cable, the AOL Time Warner Book Group, and the Interactive Video unit, relegating AOL to being just another division in the conglomerate. Bewkes became chairman of the entertainment and networks group, comprising HBO, Cinemax, New Line Cinema, The WB, TNT, Turner Networks, Warner Bros., and Warner Music Group. Both Logan and Bewkes, who had initially opposed the merger, were chosen because they were considered the most successful operational executives in the conglomerate and they would report to AOL Time Warner CEO Richard Parsons.[54][56] Logan, generally admired at Time Warner and reviled by AOL for being a corporate timeserver who stressed incremental steady growth and not much of a risk-taker, moved to purge AOL of Pittman allies.[52]

Time Warner (2003–2018)

 
Logo for Time Warner (2003–2018)

AOL Time Warner Chairman Steve Case took on added prominence as the co-head of a new strategy committee of the board, making speeches to divisions on synergism and the promise of the Internet. However, under pressure from institutional investor vice-president Gordon Crawford who lined up dissenters, Case stated in January 2003 that he would not stand for re-election as executive chairman in the upcoming annual meeting, making CEO Richard Parsons the chairman-elect. In July 2003,[57] the company dropped the "AOL" from its name, and spun off Time-Life's ownership under the legal name Direct Holdings Americas, Inc.[58] On November 24, 2003, Time Warner announced they would sell the Warner Music Group, which hosted a variety of acts such as Madonna and Prince, to an investor group led by Edgar Bronfman Jr. and Thomas H. Lee Partners, in order to cut its debt down to US$20 million.[59] Case resigned from the Time Warner board on October 31, 2005.[52][60] Jeff Bewkes, who eventually became CEO of Time Warner in 2007, described the 2001 merger with AOL as 'the biggest mistake in corporate history'.[61]

In 2005, Time Warner was among 53 entities that contributed the maximum of $250,000 to the second inauguration of President George W. Bush.[62][63][64] On December 27, 2007, newly installed Time Warner CEO Jeffrey Bewkes discussed possible plans to spin off Time Warner Cable and sell off AOL and Time Inc. This would leave a smaller company made up of Turner Broadcasting, Warner Bros. and HBO.[65] On February 28, 2008, co-chairmen and co-CEOs of New Line Cinema Bob Shaye and Michael Lynne resigned from the 40-year-old movie studio in response to Jeffrey Bewkes's demand for cost-cutting measures at the studio, which he intended to dissolve into Warner Bros.[66]

In 2009, Time Warner spun out its Time Warner Cable division (it is now part of Charter Communications),[67] and later AOL, as independent companies; AOL was later purchased by Verizon in 2015.[68]

In the first quarter of 2010, Time Warner purchased additional interests in HBO Latin America Group for $217 million, which resulted HBO owning 80% of the equity interests of HBO LAG. In 2010, HBO purchased the remainder of its partners' interests in HBO Europe[69] (formerly HBO Central Europe) for $136 million, net of cash acquired. In August 2010, Time Warner agreed to acquire Shed Media, a television production company, for £100 million. Its distribution operation, Outright Distribution, was folded into Warner Bros. International Television Production.[70] On August 26, 2010, Time Warner acquired Chilevisión.[71] WarnerMedia already operated in the country with CNN Chile.[72]

In May 2011, Warner Bros. Home Entertainment Group acquired Flixster,[73] a movie discovery application company. The acquisition also includes Rotten Tomatoes, a movie review aggregator.[74]

In June 2012, Time Warner acquired Alloy Entertainment, a publisher and television studio whose works are aimed at teen girls and young women.[75] On August 6, 2012, Time Warner acquired Bleacher Report, a sports news website. The property was placed under the control of the Turner Sports division.[76]

On March 6, 2013, Time Warner intended to spin-off its publishing division Time Inc. as a separate, publicly traded company. The transaction was completed on June 6, 2014.[77][78]

In January 2014, Time Warner, Related Companies, and Oxford Properties Group announced that the then Time Warner intended to relocate the company's corporate headquarters and its New York City-based employees to 30 Hudson Yards in the Hudson Yards neighborhood in Chelsea, Manhattan, and has accordingly made an initial financial commitment.[79] Time Warner sold its stake in the Columbus Circle building for $1.3 billion to Related and two wealth funds. The move would be completed in 2019.[80]

In June 2014, Rupert Murdoch made a bid for Time Warner at $85 per share in stock and cash ($80 billion total) which Time Warner's board of directors turned down in July. Time Warner's CNN unit would have been sold to ease antitrust issues of the purchase.[81] On August 5, 2014, Murdoch withdrew his offer to purchase Time Warner.[82]

AT&T acquisition and rebranding (2018–2021)

On October 20, 2016, it was reported that AT&T was in talks to acquire Time Warner. The proposed deal would give AT&T significant holdings in the media industry. AT&T's competitor Comcast had previously acquired NBCUniversal in a similar bid to increase its media holdings, in concert with its ownership of television and internet providers.[83][84][8] On October 22, 2016, AT&T reached a deal to buy Time Warner for $85.4 billion. The merger would bring Time Warner's properties under the same umbrella as AT&T's telecommunication holdings, including satellite provider DirecTV.[85][86] The deal faced criticism for the possibility that AT&T could use Time Warner content as leverage to discriminate against or limit access to the content by competing providers.[87]

On February 15, 2017, Time Warner shareholders approved the merger.[88] On February 28, Federal Communications Commission chairman Ajit Pai refused to review the deal, leaving the review to the Department of Justice.[89] On March 15, 2017, the merger was approved by the European Commission.[90] On August 22, 2017, the merger was approved by the Mexican Comisión Federal de Competencia.[91] On September 5, 2017, the merger was approved by the Chilean Fiscalía Nacional Económica.[92]

In the wake of the U.S. presidency of Donald Trump, Time Warner's ownership of CNN was considered a potential source of scrutiny for the deal, as Trump had repeatedly criticized the network for how it covered his administration, and stated during his campaign that he planned to block the acquisition because of the potential impact of the resulting consolidation. Following his election, however, his transition team stated that the government planned to evaluate the deal without prejudice.[93][94][95][96][97]

On November 8, 2017, reports of a meeting between AT&T CEO Randall L. Stephenson and Makan Delrahim, assistant Attorney General of the Department of Justice's Antitrust Division, indicated that AT&T had been recommended to divest DirecTV or Turner Broadcasting, seek alternative antitrust remedies, or abandon the acquisition. Some news outlets reported that AT&T had been ordered to specifically divest CNN, but these claims were denied by both Stephenson and a government official the following day, with the latter criticizing the reports as being an effort to politicize the deal. Stephenson also disputed the relevance of CNN to the antitrust concerns surrounding the acquisition, as AT&T does not already own a national news channel.[98][99][100][101]

On November 20, 2017, the Department of Justice filed an antitrust lawsuit over the acquisition; Delrahim stated that the deal would "greatly harm American consumers". AT&T asserted that this suit was a "radical and inexplicable departure from decades of antitrust precedent".[102] On December 22, 2017, the merger agreement deadline was extended to June 21, 2018, under a vote of confidence.[103]

On June 12, 2018, District Judge Richard J. Leon ruled in favor of AT&T, thus allowing the acquisition to go ahead with no conditions or remedies. Leon argued that the Department of Justice provided insufficient evidence that the proposed transaction would result in lessened competition. He also warned the government that attempting to obtain an appeal or stay on the ruling would be manifest unjust, as it would cause "certain irreparable harm to the defendants".[104][105][106][107]

On June 14, 2018, AT&T announced that it had closed the acquisition of Time Warner. Jeff Bewkes stepped down as CEO of Time Warner while retaining ties with the company as senior advisor of AT&T. John Stankey, who headed the AT&T/Time Warner integration team, took over as CEO. On the next day, AT&T renamed the company as WarnerMedia (legally Warner Media, LLC).[13]

 
Logo for WarnerMedia (2018–2020)

On July 12, 2018, the Department of Justice filed a notice of appeal with the D.C. Circuit to reverse the District Court's approval. Although the Department of Justice reportedly contemplated requesting an injunction to stop the deal from closing after the District Court's ruling, the department ultimately did not file the motion because WarnerMedia's operation as a separate group from the rest of AT&T would make the business relatively easy to unwind should the appeal be successful.[108] The next day, however, AT&T CEO Randall Stephenson told CNBC that the appeal would not affect its plans to integrate WarnerMedia into AT&T, or services already launched.[109] In a brief filed by the Justice Department, it was argued that the decision to approve the acquisition ran "contrary to fundamental economic logic and the evidence".[110][111]

On August 7, 2018, AT&T acquired the remaining controlling stake in Otter Media from the Chernin Group for an undisclosed amount. The company operated as a division of WarnerMedia.[112][113]

On August 29, 2018, Makan Delrahim told Recode that if the government were to win the appeal, AT&T would only sell Turner and if they lost the appeal then the February 2019 expiration of a consent decree AT&T reached with the Justice Department shortly before the deal closed would allow AT&T to do what they want with Turner.[114] The appeal was expected to have zero impact on the integration.[115][116] By September 2018, nine state Attorneys General sided with AT&T on the case.[117]

On October 10, 2018, WarnerMedia announced that it would launch an over-the-top streaming service in late 2019, featuring content from its entertainment brands.[118] On December 14, 2018, Kevin Reilly, president of TNT and TBS, was promoted to chief content officer of all WarnerMedia digital and subscription activities, including HBO Max, reporting to both Turner's president David Levy and WarnerMedia's CEO John Stankey.[119][120][121] The U.S. Court of Appeals in Washington D.C. unanimously upheld the lower court's ruling in favor of AT&T on February 26, 2019, stating it did not believe the merger with Time Warner would have a negative impact on either consumers or competition.[122] The Justice Department declined to appeal the decision further,[123] thus allowing the consent decree to expire.

On March 4, 2019, AT&T announced a major reorganization of its broadcasting assets to effectively dissolve Turner Broadcasting. Its assets were dispersed across two of the new divisions, WarnerMedia Entertainment and WarnerMedia News & Sports. WarnerMedia Entertainment would consist of HBO, TBS, TNT, TruTV, and the direct-to-consumer video service HBO Max. WarnerMedia News & Sports would have CNN Worldwide, Turner Sports, and the AT&T SportsNet regional networks led by CNN president Jeff Zucker. Cartoon Network, Adult Swim, Boomerang, Turner Classic Movies, and Otter Media would be moved under Warner Bros. Gerhard Zeiler moved from being president of Turner International to chief revenue officer of WarnerMedia, and would oversee the consolidated advertising and affiliation sales.[124] David Levy and HBO chief Richard Plepler stepped down as part of the reorganization, which was described by The Wall Street Journal as being intended to end "fiefdoms".[125] Turner Podcast Network, formed within Turner Content Distribution in 2017,[126] became WarnerMedia Podcast Network by May 2019.[127]

In May 2019, Kevin Reilly signed a four-year extension of his contract with the company, which additionally made him president of TruTV (alongside the other three WarnerMedia Entertainment basic cable networks), and chief content officer of direct-to-consumer for the new streaming service.[128] On May 31, 2019, Otter Media was transferred from Warner Bros. to WarnerMedia Entertainment, and Otter's COO Andy Forssell became the executive vice president and general manager of the streaming service, while still reporting to Otter CEO Tony Goncalves — who would lead development.[129] On July 9, 2019, it was announced that the new streaming service would be known as HBO Max, which was launched on May 27, 2020.[130][131]

In September 2019, Stankey was promoted to AT&T president and chief operating officer. By April 1, 2020, former Hulu chief Jason Kilar took over as WarnerMedia CEO.[132]

In August 2020, the company had a significant restructuring laying off around 800 employees including around 600 from Warner and 150+ from HBO.[133] At WarnerMedia's Atlanta base, marketing and cable operations teams were particularly affected.[134]

On August 10, 2020, WarnerMedia restructured several of its units in a major corporate revamp that resulted in TBS, TNT and TruTV being brought back under the same umbrella as Cartoon Network/Adult Swim, Boomerang and TCM, under a consolidation of WarnerMedia Entertainment and Warner Bros. Entertainment's respective assets that formed the combined WarnerMedia Studios & Networks Group unit. Casey Bloys—who has been with WarnerMedia since 2004 (as director of development at HBO Independent Productions), and was eventually elevated to President of Programming at HBO and Cinemax in May 2016—added oversight of WarnerMedia's basic cable networks and HBO Max to his purview.[14][15][135] In October 2020, it was announced that the company was planning to execute over a 1,000 job cuts in order to reduce costs. WarnerMedia plans to reduce costs by at least 20% in order to deal with the profit shortage caused by the COVID-19 pandemic.[136]

As a result of planned cost cutting programs, the sale of Warner Bros. Interactive Entertainment was proposed, but ultimately abandoned due to COVID-19 related growth in the Gaming industry, as well as a positive reception to upcoming DC Comics, Lego Star Wars, and Harry Potter titles from fans and critics.[137]

Crunchyroll was sold to Sony's Funimation for US$1.175 billion in December 2020, with the acquisition closing in August 2021.[138][139]

On December 21, 2020, WarnerMedia acquired You.i TV, an Ottawa, Ontario-based developer of tools for building cross-platform video streaming apps. The company's products have been the basis of various WarnerMedia streaming platforms, including AT&T TV Now and the Turner channels' apps, and would be used as part of international expansion of HBO Max.[140][141]

Spin-off from AT&T and merger with Discovery, Inc. (2021–2022)

Main article: Warner Bros. Discovery

On May 16, 2021, it was reported that AT&T was in talks with Discovery, Inc.—which primarily operated television channels and platforms devoted to non-fiction and unscripted content—for it to merge with WarnerMedia, forming a publicly traded company that would be divided between its shareholders.[142] The proposed spin-off and merger was officially announced the next day, which is to be structured as a Reverse Morris Trust. AT&T shareholders would receive a 71% stake in the merged company, which is expected to be known as Warner Bros. Discovery,[143] and led by Discovery's current CEO David Zaslav.[144][145]

Electronic Arts, who were a bidder in the proposed sale of Warner Bros. Interactive Entertainment, purchased the mobile gaming studio Playdemic from WBIE for US$1.4 billion in June 2021.[146]

In September 2021, WarnerMedia sold TMZ to Fox Corporation in a deal worth about $50 million with TMZ being operated under the Fox Entertainment division.[147]

In November 2021, Discovery and WarnerMedia discussed a plan to combine the two streaming services, HBO Max and Discovery+, into one streaming service in two phases: an initial phase that allows for quick bundling of the services and a second phase that allows for a common service on one tech platform.[148] In the same month, it was announced that Discovery would rename itself Warner Bros. and reclassify and convert its stock into stock of WBD.[149]

On December 22, 2021, it was announced that the deal was approved by the European Commission and it was scheduled to be completed on April 8, 2022, subject to approval by Discovery shareholders and additional closing conditions.[150][151]

On January 5, 2022, The Wall Street Journal reported that WarnerMedia and Paramount Global (at the time known as ViacomCBS) were exploring a possible sale of either a majority stake or all of The CW, and that Nexstar Media Group (which became The CW's largest affiliate group when it acquired former WB co-owner Tribune Broadcasting in 2019) was considered a leading bidder.[152] The news led to speculation that, should a sale take place, new ownership could steer the network in a new direction, transforming The CW from a young adult-oriented network into one that featured more unscripted and even national news programming.[153] However, reports also indicated that WarnerMedia and ViacomCBS could include a contractual commitment that would require any new owner to buy new programming from those companies, allowing them to reap some continual revenue through the network.[154] The network's president and CEO Mark Pedowitz at the time confirmed talks of a potential sale in a memo to CW staffers, but added that "It's too early to speculate what might happen" and that the network "must continue to do what we do best."[155][156]

On January 26, 2022, it was reported that the merger between WarnerMedia and Discovery, Inc. was expected to close sometime during the second quarter of 2022.[157][158]

On February 1, 2022, it was reported that AT&T was going to spin off WarnerMedia in a $43 billion deal.[159][160] Also on the same month, it was announced that the WarnerMedia and Discovery merger was approved by the Brazilian antitrust regulator Cade.[161]

On February 9, 2022, it was announced that the deal was approved by the United States Department of Justice.[162] A day later, it was announced that Discovery's shareholders would board on meeting on March 11 to vote on the WarnerMedia merger.[163] The deal was approved by Discovery shareholders on the same date.[164]

On February 23, 2022, it was announced that the WarnerMedia-Discovery merger would close on April 8.[165] On March 25, it was announced that AT&T would spin off WarnerMedia on April 8, marking AT&T's official exit from entertainment business.[166]

On April 5, it was announced that Kilar; Ann Sarnoff, Chair and CEO of WarnerMedia Studios and Networks Group; as well as Andy Forssell, executive vice president and general manager of HBO Max; were stepping down from their roles.[167] The next day, chief financial officer Jennifer Biry, chief human resources officer Jim Cummings, chief revenue officer Tony Goncalves, communications and chief inclusion officer Christy Haubegger, WarnerMedia general counsel Jim Meza and chief technology officer Richard Tom were confirmed to be stepping down.[168] The merger was completed on April 8.[169]

Units

WarnerMedia's businesses operated under the following five primary divisions:

Leadership

* Note: all executives listed below were in office until its merger with Discovery, Inc. on April 8, 2022.

  • Jason Kilar (Chief Executive Officer)
    • Michael Bass, Amy Entelis and Ken Jautz (Interim Co-Heads, CNN)
    • Jennifer S. Biry (Chief Financial Officer)
    • James Cummings (Executive Vice President & Chief Human Resources Officer)
    • Andy Forssell (Executive Vice President & General Manager, HBO Max)
    • Tony Goncalves (Executive Vice President & Chief Revenue Officer)
    • Christy Haubegger (Executive Vice President, Communications & Chief Inclusion Officer)
    • James Meza (Executive Vice President & General Counsel)
    • Ann Sarnoff (Chair and CEO, WarnerMedia Studios & Networks Group)
    • Richard Tom (Chief Technology Officer)
    • Gerhard Zeiler (President, WarnerMedia International)

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External links

  • Official website

April 10, 2023
warnermedia, time, warner, redirects, here, former, cable, television, operator, united, states, separated, from, time, warner, 2009, time, warner, cable, warner, media, traded, american, multinational, mass, media, entertainment, conglomerate, headquartered, . Time Warner redirects here For the former cable television operator in the United States separated from Time Warner in 2009 see Time Warner Cable Warner Media LLC traded as WarnerMedia was an American multinational mass media and entertainment conglomerate It was headquartered at the 30 Hudson Yards complex in New York City United States Warner Media LLC30 Hudson Yards WarnerMedia s last headquarters in New York CityTrade nameWarnerMediaFormerlyTime Warner Inc 1990 2001 Time Warner Entertainment Inc or Time Warner Entertainment Company L P 1992 2001 AOL Time Warner Inc 2001 2003 Time Warner Inc 2003 2018 TypeSubsidiaryIndustryMediaEntertainmentPredecessorsKinney National Company 1966 1972 Warner Communications 1972 1990 Time Inc 1922 1990 Turner Broadcasting System 1965 2019 FoundedJanuary 10 1990 33 years ago 1990 01 10 FounderSteve RossDefunctApril 8 2022 12 months ago 2022 04 08 FateMerged with Discovery Inc SuccessorWarner Bros DiscoveryHeadquarters30 Hudson Yards New York City USArea servedWorldwideKey peopleJason Kilar CEO Andy Forssell Head of operations Direct Ann Sarnoff Chairwoman and CEO Studios and Networks Chairwoman and CEO Warner Bros Michael Bass Amy Entelis and Ken Jautz CNN interim co heads Gerhard Zeiler CRO Chairman International Tony Goncalves President Commercial CEO Otter Media BrandsAdult Swim AT amp T SportsNet Boomerang Cartoon Network Cartoonito Cinemax CNN CNN DC Comics HBO Hanna Barbera Studios Europe HBO Max HLN TBS The CW 50 TNT TruTV Turner Classic Movies Warner Bros Warner TVRevenueUS 35 63 billion 2021 Operating incomeUS 7 24 billion 2021 Number of employees25 600 2015 ParentIndependent 1990 2018 AT amp T 2018 2022 DivisionsWarnerMedia Studios amp Networks WarnerMedia News amp Sports WarnerMedia Sales amp Distribution WarnerMedia Direct WarnerMedia InternationalWebsitewarnermedia comFootnotes references 1 2 3 4 5 It was established as Time Warner in 1990 following a merger between Time Inc and the original Warner Communications The company had film television and cable operations Its assets included WarnerMedia Studios amp Networks which consisted of the entertainment assets of Turner Broadcasting HBO and Cinemax as well as Warner Bros which itself consisted of the film animation television studios the company s home entertainment division and Studio Distribution Services its joint venture with Universal Pictures Home Entertainment DC Comics New Line Cinema and together with CBS Entertainment Group 6 a 50 interest in The CW WarnerMedia News amp Sports consisted of the news and sports assets of Turner Broadcasting including CNN Turner Sports and AT amp T SportsNet WarnerMedia Sales amp Distribution consisted of digital media company Otter Media and WarnerMedia Direct consisted of the HBO Max streaming service Despite spinning off Time Inc in 2014 the company retained the Time Warner name from 1990 also becoming Time Warner in 2003 until 2018 In 2018 after AT amp T s acquisition of Time Warner the company was renamed Warner Media 7 On October 22 2016 AT amp T officially announced that they intended on acquiring Time Warner for 85 4 billion including assumed Time Warner debt valuing the company at 107 50 per share 8 9 The proposed merger was confirmed on June 12 2018 10 after AT amp T won an antitrust lawsuit that the U S Justice Department filed in 2017 to attempt to block the acquisition 11 and was completed two days later when the company became a subsidiary of AT amp T 12 The company s final name was adopted a day later 13 Under AT amp T the company moved to launch a streaming service built around the company s content known as HBO Max WarnerMedia refolded Turner s entertainment based networks under a singular umbrella unit on August 10 2020 through a consolidation of the WarnerMedia Entertainment and Warner Bros Entertainment assets into a new unit WarnerMedia Studios amp Networks Group 14 15 On May 17 2021 nearly three years after the acquisition AT amp T decided to leave the entertainment business by announcing that it had proposed to relinquish its ownership of WarnerMedia and merge it with Discovery Inc to form a new publicly traded company Warner Bros Discovery The deal closed on April 8 2022 The company s previous assets included Time Inc TW Telecom AOL Time Warner Cable AOL Time Warner Book Group and Warner Music Group these operations were either sold to others or spun off as independent companies The company was ranked No 98 in the 2018 Fortune 500 list of the largest United States corporations by total revenue 16 Contents 1 History 1 1 Warner Communications 1972 1990 1 2 Time Warner 1990 2001 and Time Warner Entertainment 1992 2001 1 3 AOL Time Warner 2001 2003 1 4 Time Warner 2003 2018 1 5 AT amp T acquisition and rebranding 2018 2021 1 6 Spin off from AT amp T and merger with Discovery Inc 2021 2022 2 Units 3 Leadership 4 References 5 External linksHistory EditWarner Communications 1972 1990 Edit Warner Communications Inc Warner Communications logo designed by Saul Bass and nicknamed Big W used from 1972 to 1990 Since 2004 the stylized W has been used by Warner Music Group which is no longer part of what is now Warner Bros Discovery TypePublicIndustryEntertainmentPredecessorKinney National CompanyFoundedFebruary 10 1972FounderSteve RossDefunctJanuary 10 1990FateMerged with Time Inc SuccessorWarnerMediaHeadquartersUnited States Operating income 7 965 billion 1986 Number of employees26 300 1985 SubsidiariesWarner Bros Pictures Warner Bros Television Warner Home Video Lorimar Productions Telepictures DC Comics Mad Magazine Warner Bros Records Elektra Records Atlantic Records Warner Elektra Atlantic Warner CableOn February 10 1972 the entertainment assets of the Kinney National Company were reincorporated as Warner Communications due to a financial scandal involving price fixing in its parking operations 17 Warner Communications served as the parent company for Warner Bros Pictures the Warner Music Group WMG Warner Books and Warner Cable during the 1970s and 1980s It also owned DC Comics and Mad magazine The European publishing division which produced magazines and comics was known as Williams Publishing thanks to a prior acquisition from Gilberton World Wide Publications 18 it had European language branches in the United Kingdom 19 Denmark 20 Finland 21 France 22 Germany 23 Italy 24 the Netherlands 25 Norway 26 and Sweden 27 Most of these publishers were sold off around 1979 During its time as Warner Communications the company made a number of further acquisitions In 1979 Warner formed a joint venture with credit card company American Express called Warner Amex Satellite Entertainment This company owned such cable channels as MTV Nickelodeon The Movie Channel and VH1 which was launched in 1985 on the channel space left by Turner s Cable Music Channel Warner bought out American Express s half in 1984 and sold the venture a year later to the original iteration of Viacom which renamed it MTV Networks now known as Paramount Media Networks In 1982 Warner purchased Popular Library from CBS Publications 28 By the mid to late 1980s Warner began to face financial difficulties From 1976 to 1984 Warner Communications owned Atari Inc but suffered substantial losses due to the video game crash of 1983 and had to spin them off in 1984 Taking advantage of Warner Communications s financial situation Time Inc announced on March 4 1989 that the two companies were to merge 29 During the summer of 1989 Paramount Communications then Gulf Western launched a 12 2 billion hostile bid to acquire Time Inc in an attempt to end a stock swap merger deal between Time and Warner Communications 30 Time raised its bid to 14 9 billion in cash and stock Paramount responded by filing a lawsuit in a Delaware court to block the Time Warner merger The court ruled twice in favor of Time forcing Paramount to drop both the Time acquisition and the lawsuit and allowing the two companies to merge which was completed on January 10 1990 31 Time Warner 1990 2001 and Time Warner Entertainment 1992 2001 Edit US West partnered with Time Warner in 1993 to form what was later known as TW Telecom initially known as Time Warner Communications also utilized as the brand name for cable operation previously under the ATC name in order to bring telephone via fiber to the masses US West also took a 26 stake in the entertainment portion of the company calling that division Time Warner Entertainment US West s stake eventually passed to acquired cable company MediaOne then to AT amp T Broadband in 1999 when that company acquired MediaOne then finally to Comcast in 2001 when that company bought the AT amp T Broadband division Comcast sold their stake in the company in 2003 relegating the name to a subdivision under Time Warner Cable On October 10 1996 Time Warner acquired Turner Broadcasting System which was established by Ted Turner in 1965 Not only did this result in the company in a way re entering the basic cable television industry in regards to nationally available channels but Warner Bros also regained the rights to their pre 1950 32 33 film library which by then had been owned by Turner the films are still technically held by Turner but WB is responsible for sales and distribution 34 while Turner gained access to WB s post 1950 library as well as other WB owned properties The Turner deal also brought two separate film companies New Line Cinema and Castle Rock Entertainment both which were integrated into Warner Bros 35 The Turner deal also gave Time Warner access to Metro Goldwyn Mayer MGM s pre May 1986 library Time Warner completed its purchase of Six Flags Theme Parks in 1993 after buying half of the company in 1991 saving it from financial trouble The company was later sold to Oklahoma based theme park operator Premier Parks under certain terms and conditions on April 1 1998 36 Dick Parsons already a director on the board since 1991 was hired as Time Warner president in 1995 although the division operational heads continued to report directly to chairman and CEO Gerald Levin 37 In 1991 HBO and Cinemax became the first premium pay services to offer multiplexing to cable customers with companion channels supplementing the main networks 38 In 1993 HBO became the world s first digitally transmitted television service 39 In 1995 CNN introduced CNN com which later became a leading destination for global digital news both online and mobile 40 In 1996 Warner Bros spearheaded the introduction of the DVD which gradually replaced VHS tapes as the standard format for home video in the late 1990s and early to mid 2000s 41 In 1999 HBO became the first national cable television network to broadcast a high definition version of its channel 42 AOL Time Warner 2001 2003 Edit AOL Time Warner redirects here For the subsidiary of AOL Time Warner see AOL See also Dot com bubble Logo for AOL Time Warner 2001 2003 In January 2000 America Online AOL stated its intentions to purchase Time Warner for 183 billion 43 Due to the larger market capitalization of AOL their shareholders would own 55 of the new company while Time Warner shareholders owned only 45 44 so in actual practice AOL had merged with Time Warner even though Time Warner had far more assets and revenues Time Warner had been looking for a way to embrace the digital revolution while AOL wanted to anchor its stock price with more tangible assets 45 The deal officially filed on February 11 2000 44 46 employed a merger structure in which each original company merged into a newly created entity The Federal Trade Commission FTC cleared the deal on December 14 2000 47 and gave final approval on January 11 2001 the company completed the merger later that day 48 The deal was approved on the same day by the Federal Communications Commission FCC 46 and had already been cleared by the European Commission EC on October 11 2000 49 AOL Time Warner Inc as the company was then called was supposed to be a merger of equals with top executives from both sides Gerald Levin who had served as chairman and CEO of Time Warner was CEO of the new company AOL co founder Steve Case served as Executive Chairman of the board of directors Robert W Pittman president and COO of AOL and Dick Parsons president of Time Warner served as Co Chief Operating Officers and J Michael Kelly the CFO from AOL became the chief financial officer 50 According to AOL President and COO Bob Pittman the slow moving Time Warner would now take off at Internet speed accelerated by AOL All you need to do is put a catalyst to Time Warner and in a short period you can alter the growth rate The growth rate will be like an Internet company The vision for Time Warner s future seemed clear and straightforward by tapping into AOL Time Warner would reach deep into the homes of tens of millions of new customers AOL would use Time Warner s high speed cable lines to deliver to its subscribers Time Warner s branded magazines books music and movies This would have created 130 million subscription relationships However the growth and profitability of the AOL division stalled due to advertising and loss of market share to the growth of high speed broadband providers The value of the AOL division dropped significantly not unlike the market valuation of similar independent internet companies that drastically fell and forced a goodwill write off causing AOL Time Warner to report a loss of 99 billion in 2002 at the time the largest loss ever reported by a company The total value of AOL stock subsequently went from 226 billion to about 20 billion 51 An outburst by Vice Chairman Ted Turner at a board meeting prompted Steve Case to contact each of the directors and push for CEO Gerald Levin s ouster Although Case s coup attempt was rebuffed by Parsons and several other directors Levin became frustrated with being unable to regain the rhythm at the combined company and handed in his resignation in the fall of 2001 effective in May 2002 52 Although Co COO Bob Pittman was the strongest supporter of Levin and largely seen as the heir apparent Dick Parsons was instead chosen as CEO Time Warner CFO J Michael Kelly was demoted to COO of the AOL division and replaced as CFO by Wayne Pace AOL Chairman and CEO Barry Schuler was removed from his position and placed in charge of a new content creation division being replaced on an interim basis by Pittman who was already serving as the sole COO after Parsons promotion 53 Many of the expected synergies between AOL and other Time Warner divisions never materialized as most Time Warner divisions were considered independent fiefs that rarely cooperated prior to the merger A new incentive program that granted options based on the performance of AOL Time Warner replacing the cash bonuses for the results of their own division caused resentment among Time Warner division heads who blamed the AOL division for failing to meet expectations and dragging down the combined company AOL Time Warner COO Pittman who expected to have the divisions working closely towards convergence instead found heavy resistance from many division executives who also criticized Pittman for adhering to optimistic growth targets for AOL Time Warner that were never met Some of the attacks on Pittman were reported to come from the print media in the Time Inc division under Don Logan 54 Furthermore CEO Parsons democratic style prevented Pittman from exercising authority over the old guard division heads who resisted Pittman s synergy initiatives 50 55 Pittman resigned as AOL Time Warner COO after July 4 2002 being reportedly burned out by the AOL special assignment and almost hospitalized unhappy about the criticism from Time Warner executives and seeing nowhere to move up in firm as Parsons was firmly entrenched as CEO 55 Pittman s departure was seen as a great victory to Time Warner executives who wanted to undo the merger In a sign of AOL s diminishing importance to the media conglomerate Pittman s responsibilities were divided between two Time Warner veterans Jeffrey Bewkes who was CEO of Home Box Office and Don Logan who had been CEO of Time Logan became chairman of the newly created media and communications group overseeing America Online Time Time Warner Cable the AOL Time Warner Book Group and the Interactive Video unit relegating AOL to being just another division in the conglomerate Bewkes became chairman of the entertainment and networks group comprising HBO Cinemax New Line Cinema The WB TNT Turner Networks Warner Bros and Warner Music Group Both Logan and Bewkes who had initially opposed the merger were chosen because they were considered the most successful operational executives in the conglomerate and they would report to AOL Time Warner CEO Richard Parsons 54 56 Logan generally admired at Time Warner and reviled by AOL for being a corporate timeserver who stressed incremental steady growth and not much of a risk taker moved to purge AOL of Pittman allies 52 Time Warner 2003 2018 Edit Logo for Time Warner 2003 2018 AOL Time Warner Chairman Steve Case took on added prominence as the co head of a new strategy committee of the board making speeches to divisions on synergism and the promise of the Internet However under pressure from institutional investor vice president Gordon Crawford who lined up dissenters Case stated in January 2003 that he would not stand for re election as executive chairman in the upcoming annual meeting making CEO Richard Parsons the chairman elect In July 2003 57 the company dropped the AOL from its name and spun off Time Life s ownership under the legal name Direct Holdings Americas Inc 58 On November 24 2003 Time Warner announced they would sell the Warner Music Group which hosted a variety of acts such as Madonna and Prince to an investor group led by Edgar Bronfman Jr and Thomas H Lee Partners in order to cut its debt down to US 20 million 59 Case resigned from the Time Warner board on October 31 2005 52 60 Jeff Bewkes who eventually became CEO of Time Warner in 2007 described the 2001 merger with AOL as the biggest mistake in corporate history 61 In 2005 Time Warner was among 53 entities that contributed the maximum of 250 000 to the second inauguration of President George W Bush 62 63 64 On December 27 2007 newly installed Time Warner CEO Jeffrey Bewkes discussed possible plans to spin off Time Warner Cable and sell off AOL and Time Inc This would leave a smaller company made up of Turner Broadcasting Warner Bros and HBO 65 On February 28 2008 co chairmen and co CEOs of New Line Cinema Bob Shaye and Michael Lynne resigned from the 40 year old movie studio in response to Jeffrey Bewkes s demand for cost cutting measures at the studio which he intended to dissolve into Warner Bros 66 In 2009 Time Warner spun out its Time Warner Cable division it is now part of Charter Communications 67 and later AOL as independent companies AOL was later purchased by Verizon in 2015 68 In the first quarter of 2010 Time Warner purchased additional interests in HBO Latin America Group for 217 million which resulted HBO owning 80 of the equity interests of HBO LAG In 2010 HBO purchased the remainder of its partners interests in HBO Europe 69 formerly HBO Central Europe for 136 million net of cash acquired In August 2010 Time Warner agreed to acquire Shed Media a television production company for 100 million Its distribution operation Outright Distribution was folded into Warner Bros International Television Production 70 On August 26 2010 Time Warner acquired Chilevision 71 WarnerMedia already operated in the country with CNN Chile 72 In May 2011 Warner Bros Home Entertainment Group acquired Flixster 73 a movie discovery application company The acquisition also includes Rotten Tomatoes a movie review aggregator 74 In June 2012 Time Warner acquired Alloy Entertainment a publisher and television studio whose works are aimed at teen girls and young women 75 On August 6 2012 Time Warner acquired Bleacher Report a sports news website The property was placed under the control of the Turner Sports division 76 On March 6 2013 Time Warner intended to spin off its publishing division Time Inc as a separate publicly traded company The transaction was completed on June 6 2014 77 78 In January 2014 Time Warner Related Companies and Oxford Properties Group announced that the then Time Warner intended to relocate the company s corporate headquarters and its New York City based employees to 30 Hudson Yards in the Hudson Yards neighborhood in Chelsea Manhattan and has accordingly made an initial financial commitment 79 Time Warner sold its stake in the Columbus Circle building for 1 3 billion to Related and two wealth funds The move would be completed in 2019 80 In June 2014 Rupert Murdoch made a bid for Time Warner at 85 per share in stock and cash 80 billion total which Time Warner s board of directors turned down in July Time Warner s CNN unit would have been sold to ease antitrust issues of the purchase 81 On August 5 2014 Murdoch withdrew his offer to purchase Time Warner 82 AT amp T acquisition and rebranding 2018 2021 Edit On October 20 2016 it was reported that AT amp T was in talks to acquire Time Warner The proposed deal would give AT amp T significant holdings in the media industry AT amp T s competitor Comcast had previously acquired NBCUniversal in a similar bid to increase its media holdings in concert with its ownership of television and internet providers 83 84 8 On October 22 2016 AT amp T reached a deal to buy Time Warner for 85 4 billion The merger would bring Time Warner s properties under the same umbrella as AT amp T s telecommunication holdings including satellite provider DirecTV 85 86 The deal faced criticism for the possibility that AT amp T could use Time Warner content as leverage to discriminate against or limit access to the content by competing providers 87 On February 15 2017 Time Warner shareholders approved the merger 88 On February 28 Federal Communications Commission chairman Ajit Pai refused to review the deal leaving the review to the Department of Justice 89 On March 15 2017 the merger was approved by the European Commission 90 On August 22 2017 the merger was approved by the Mexican Comision Federal de Competencia 91 On September 5 2017 the merger was approved by the Chilean Fiscalia Nacional Economica 92 In the wake of the U S presidency of Donald Trump Time Warner s ownership of CNN was considered a potential source of scrutiny for the deal as Trump had repeatedly criticized the network for how it covered his administration and stated during his campaign that he planned to block the acquisition because of the potential impact of the resulting consolidation Following his election however his transition team stated that the government planned to evaluate the deal without prejudice 93 94 95 96 97 On November 8 2017 reports of a meeting between AT amp T CEO Randall L Stephenson and Makan Delrahim assistant Attorney General of the Department of Justice s Antitrust Division indicated that AT amp T had been recommended to divest DirecTV or Turner Broadcasting seek alternative antitrust remedies or abandon the acquisition Some news outlets reported that AT amp T had been ordered to specifically divest CNN but these claims were denied by both Stephenson and a government official the following day with the latter criticizing the reports as being an effort to politicize the deal Stephenson also disputed the relevance of CNN to the antitrust concerns surrounding the acquisition as AT amp T does not already own a national news channel 98 99 100 101 On November 20 2017 the Department of Justice filed an antitrust lawsuit over the acquisition Delrahim stated that the deal would greatly harm American consumers AT amp T asserted that this suit was a radical and inexplicable departure from decades of antitrust precedent 102 On December 22 2017 the merger agreement deadline was extended to June 21 2018 under a vote of confidence 103 On June 12 2018 District Judge Richard J Leon ruled in favor of AT amp T thus allowing the acquisition to go ahead with no conditions or remedies Leon argued that the Department of Justice provided insufficient evidence that the proposed transaction would result in lessened competition He also warned the government that attempting to obtain an appeal or stay on the ruling would be manifest unjust as it would cause certain irreparable harm to the defendants 104 105 106 107 On June 14 2018 AT amp T announced that it had closed the acquisition of Time Warner Jeff Bewkes stepped down as CEO of Time Warner while retaining ties with the company as senior advisor of AT amp T John Stankey who headed the AT amp T Time Warner integration team took over as CEO On the next day AT amp T renamed the company as WarnerMedia legally Warner Media LLC 13 Logo for WarnerMedia 2018 2020 On July 12 2018 the Department of Justice filed a notice of appeal with the D C Circuit to reverse the District Court s approval Although the Department of Justice reportedly contemplated requesting an injunction to stop the deal from closing after the District Court s ruling the department ultimately did not file the motion because WarnerMedia s operation as a separate group from the rest of AT amp T would make the business relatively easy to unwind should the appeal be successful 108 The next day however AT amp T CEO Randall Stephenson told CNBC that the appeal would not affect its plans to integrate WarnerMedia into AT amp T or services already launched 109 In a brief filed by the Justice Department it was argued that the decision to approve the acquisition ran contrary to fundamental economic logic and the evidence 110 111 On August 7 2018 AT amp T acquired the remaining controlling stake in Otter Media from the Chernin Group for an undisclosed amount The company operated as a division of WarnerMedia 112 113 On August 29 2018 Makan Delrahim told Recode that if the government were to win the appeal AT amp T would only sell Turner and if they lost the appeal then the February 2019 expiration of a consent decree AT amp T reached with the Justice Department shortly before the deal closed would allow AT amp T to do what they want with Turner 114 The appeal was expected to have zero impact on the integration 115 116 By September 2018 nine state Attorneys General sided with AT amp T on the case 117 On October 10 2018 WarnerMedia announced that it would launch an over the top streaming service in late 2019 featuring content from its entertainment brands 118 On December 14 2018 Kevin Reilly president of TNT and TBS was promoted to chief content officer of all WarnerMedia digital and subscription activities including HBO Max reporting to both Turner s president David Levy and WarnerMedia s CEO John Stankey 119 120 121 The U S Court of Appeals in Washington D C unanimously upheld the lower court s ruling in favor of AT amp T on February 26 2019 stating it did not believe the merger with Time Warner would have a negative impact on either consumers or competition 122 The Justice Department declined to appeal the decision further 123 thus allowing the consent decree to expire On March 4 2019 AT amp T announced a major reorganization of its broadcasting assets to effectively dissolve Turner Broadcasting Its assets were dispersed across two of the new divisions WarnerMedia Entertainment and WarnerMedia News amp Sports WarnerMedia Entertainment would consist of HBO TBS TNT TruTV and the direct to consumer video service HBO Max WarnerMedia News amp Sports would have CNN Worldwide Turner Sports and the AT amp T SportsNet regional networks led by CNN president Jeff Zucker Cartoon Network Adult Swim Boomerang Turner Classic Movies and Otter Media would be moved under Warner Bros Gerhard Zeiler moved from being president of Turner International to chief revenue officer of WarnerMedia and would oversee the consolidated advertising and affiliation sales 124 David Levy and HBO chief Richard Plepler stepped down as part of the reorganization which was described by The Wall Street Journal as being intended to end fiefdoms 125 Turner Podcast Network formed within Turner Content Distribution in 2017 126 became WarnerMedia Podcast Network by May 2019 127 In May 2019 Kevin Reilly signed a four year extension of his contract with the company which additionally made him president of TruTV alongside the other three WarnerMedia Entertainment basic cable networks and chief content officer of direct to consumer for the new streaming service 128 On May 31 2019 Otter Media was transferred from Warner Bros to WarnerMedia Entertainment and Otter s COO Andy Forssell became the executive vice president and general manager of the streaming service while still reporting to Otter CEO Tony Goncalves who would lead development 129 On July 9 2019 it was announced that the new streaming service would be known as HBO Max which was launched on May 27 2020 130 131 In September 2019 Stankey was promoted to AT amp T president and chief operating officer By April 1 2020 former Hulu chief Jason Kilar took over as WarnerMedia CEO 132 In August 2020 the company had a significant restructuring laying off around 800 employees including around 600 from Warner and 150 from HBO 133 At WarnerMedia s Atlanta base marketing and cable operations teams were particularly affected 134 On August 10 2020 WarnerMedia restructured several of its units in a major corporate revamp that resulted in TBS TNT and TruTV being brought back under the same umbrella as Cartoon Network Adult Swim Boomerang and TCM under a consolidation of WarnerMedia Entertainment and Warner Bros Entertainment s respective assets that formed the combined WarnerMedia Studios amp Networks Group unit Casey Bloys who has been with WarnerMedia since 2004 as director of development at HBO Independent Productions and was eventually elevated to President of Programming at HBO and Cinemax in May 2016 added oversight of WarnerMedia s basic cable networks and HBO Max to his purview 14 15 135 In October 2020 it was announced that the company was planning to execute over a 1 000 job cuts in order to reduce costs WarnerMedia plans to reduce costs by at least 20 in order to deal with the profit shortage caused by the COVID 19 pandemic 136 As a result of planned cost cutting programs the sale of Warner Bros Interactive Entertainment was proposed but ultimately abandoned due to COVID 19 related growth in the Gaming industry as well as a positive reception to upcoming DC Comics Lego Star Wars and Harry Potter titles from fans and critics 137 Crunchyroll was sold to Sony s Funimation for US 1 175 billion in December 2020 with the acquisition closing in August 2021 138 139 On December 21 2020 WarnerMedia acquired You i TV an Ottawa Ontario based developer of tools for building cross platform video streaming apps The company s products have been the basis of various WarnerMedia streaming platforms including AT amp T TV Now and the Turner channels apps and would be used as part of international expansion of HBO Max 140 141 Spin off from AT amp T and merger with Discovery Inc 2021 2022 Edit Main article Warner Bros Discovery On May 16 2021 it was reported that AT amp T was in talks with Discovery Inc which primarily operated television channels and platforms devoted to non fiction and unscripted content for it to merge with WarnerMedia forming a publicly traded company that would be divided between its shareholders 142 The proposed spin off and merger was officially announced the next day which is to be structured as a Reverse Morris Trust AT amp T shareholders would receive a 71 stake in the merged company which is expected to be known as Warner Bros Discovery 143 and led by Discovery s current CEO David Zaslav 144 145 Electronic Arts who were a bidder in the proposed sale of Warner Bros Interactive Entertainment purchased the mobile gaming studio Playdemic from WBIE for US 1 4 billion in June 2021 146 In September 2021 WarnerMedia sold TMZ to Fox Corporation in a deal worth about 50 million with TMZ being operated under the Fox Entertainment division 147 In November 2021 Discovery and WarnerMedia discussed a plan to combine the two streaming services HBO Max and Discovery into one streaming service in two phases an initial phase that allows for quick bundling of the services and a second phase that allows for a common service on one tech platform 148 In the same month it was announced that Discovery would rename itself Warner Bros and reclassify and convert its stock into stock of WBD 149 On December 22 2021 it was announced that the deal was approved by the European Commission and it was scheduled to be completed on April 8 2022 subject to approval by Discovery shareholders and additional closing conditions 150 151 On January 5 2022 The Wall Street Journal reported that WarnerMedia and Paramount Global at the time known as ViacomCBS were exploring a possible sale of either a majority stake or all of The CW and that Nexstar Media Group which became The CW s largest affiliate group when it acquired former WB co owner Tribune Broadcasting in 2019 was considered a leading bidder 152 The news led to speculation that should a sale take place new ownership could steer the network in a new direction transforming The CW from a young adult oriented network into one that featured more unscripted and even national news programming 153 However reports also indicated that WarnerMedia and ViacomCBS could include a contractual commitment that would require any new owner to buy new programming from those companies allowing them to reap some continual revenue through the network 154 The network s president and CEO Mark Pedowitz at the time confirmed talks of a potential sale in a memo to CW staffers but added that It s too early to speculate what might happen and that the network must continue to do what we do best 155 156 On January 26 2022 it was reported that the merger between WarnerMedia and Discovery Inc was expected to close sometime during the second quarter of 2022 157 158 On February 1 2022 it was reported that AT amp T was going to spin off WarnerMedia in a 43 billion deal 159 160 Also on the same month it was announced that the WarnerMedia and Discovery merger was approved by the Brazilian antitrust regulator Cade 161 On February 9 2022 it was announced that the deal was approved by the United States Department of Justice 162 A day later it was announced that Discovery s shareholders would board on meeting on March 11 to vote on the WarnerMedia merger 163 The deal was approved by Discovery shareholders on the same date 164 On February 23 2022 it was announced that the WarnerMedia Discovery merger would close on April 8 165 On March 25 it was announced that AT amp T would spin off WarnerMedia on April 8 marking AT amp T s official exit from entertainment business 166 On April 5 it was announced that Kilar Ann Sarnoff Chair and CEO of WarnerMedia Studios and Networks Group as well as Andy Forssell executive vice president and general manager of HBO Max were stepping down from their roles 167 The next day chief financial officer Jennifer Biry chief human resources officer Jim Cummings chief revenue officer Tony Goncalves communications and chief inclusion officer Christy Haubegger WarnerMedia general counsel Jim Meza and chief technology officer Richard Tom were confirmed to be stepping down 168 The merger was completed on April 8 169 Units EditWarnerMedia s businesses operated under the following five primary divisions WarnerMedia Studios amp Networks encompassed the company s television series and motion picture development production and programming The division s primary unit was the Warner Bros film television and animation studio which also contained Warner Bros Interactive Entertainment and Warner Bros Home Entertainment the comic book company DC Entertainment and youth or specialty centric cable networks Cartoon Network Adult Swim Boomerang and Turner Classic Movies Other assets included HBO as well as its sister channel Cinemax the remaining former Turner networks TBS TNT and TruTV and with Paramount Global a 50 stake in The CW Television Network 170 WarnerMedia News amp Sports encompassed the company s worldwide broadcast news and sports operations including CNN the Turner Sports subsidiary and the AT amp T SportsNet family of regional sports networks 170 WarnerMedia Sales amp Distribution oversaw WarnerMedia s U S advertising sales distribution and content licensing The division also contained digital media company Otter Media Fullscreen and Rooster Teeth 170 WarnerMedia Direct was responsible for the product marketing consumer engagement and global rollout of the company s direct to consumer streaming service HBO Max 170 WarnerMedia International oversaw certain international variations of the company s domestic television channels with a few region specific channels This group was also responsible for local execution of all of WarnerMedia s linear businesses commercial activities legacy streaming services such as HBO Portugal HBO Go in certain countries which not yet served by HBO Max and regional programming for HBO Max 170 Leadership Edit Note all executives listed below were in office until its merger with Discovery Inc on April 8 2022 Jason Kilar Chief Executive Officer Michael Bass Amy Entelis and Ken Jautz Interim Co Heads CNN Jennifer S Biry Chief Financial Officer James Cummings Executive Vice President amp Chief Human Resources Officer Andy Forssell Executive Vice President amp General Manager HBO Max Tony Goncalves Executive Vice President amp Chief Revenue Officer Christy Haubegger Executive Vice President Communications amp Chief Inclusion Officer James Meza Executive Vice President amp General Counsel Ann Sarnoff Chair and CEO WarnerMedia Studios amp Networks Group Richard Tom Chief Technology Officer Gerhard Zeiler President WarnerMedia International References Edit Financial and Operational Schedules amp Non GAAP Reconciliations PDF AT amp T January 26 2022 Archived PDF from the original on March 13 2022 Retrieved April 27 2022 Cohen Roger December 21 1992 The Creator of Time Warner Steven J Ross Is Dead at 65 The New York Times Retrieved April 11 2018 Time Warner Inc Reports Fourth Quarter and Full Year 2017 Results 10 K Time Warner February 1 2018 Archived from the original on December 2 2017 Retrieved February 5 2018 AT amp T Corporate Profile about att com Business Units WarnerMedia www warnermediagroup com Retrieved April 25 2019 formerly CBS Corporation Flint Joe March 11 2014 Time Inc spinoff probably won t mean name change for Time Warner Los Angeles Times Retrieved April 6 2018 a b Hagey Keach Sharma Amol Cimilluca Dana Gryta Thomas October 22 2016 AT amp T Is in Advanced Talks to Acquire Time Warner The Wall Street Journal ISSN 0099 9660 Retrieved March 18 2019 Littleton Cynthia October 22 2016 AT amp T Sets 85 4 Billion Time Warner Deal CEOs Talks Unique Potential of Combination Variety Retrieved October 23 2016 Gold Hadas Judge approves 85 billion AT amp T Time Warner deal CNNMoney Retrieved June 12 2018 Kang Cecilia Merced Michael November 20 2017 Justice Department Sues to Block AT amp T Time Warner Merger The New York Times ISSN 0362 4331 Retrieved December 11 2017 AT amp T Completes Acquisition of Time Warner Inc AT amp T June 15 2018 Retrieved June 15 2018 a b Time Warner is changing its name to WarnerMedia Turner CEO to depart CNBC June 15 2018 a b Hayes Dade August 10 2020 WarnerMedia Begins Layoffs In Latest Streamlining Effort Deadline Hollywood Retrieved August 31 2020 a b Goldberg Lesley August 7 2020 Bob Greenblatt Kevin Reilly Out Amid Major WarnerMedia Restructuring The Hollywood Reporter Retrieved August 31 2020 Fortune 500 Companies 2018 Who Made the List Fortune com Archived from the original on March 5 2019 Retrieved November 10 2018 Connie Bruck 2013 Master of the Game Steve Ross and the Creation of Time Warner New York Simon and Schuster ISBN 9781476737706 Retrieved August 30 2015 Jones Jr William B Classics Illustrated A Cultural History 2d ed McFarland amp Company 2017 Williams Publishing Grand Comics Database Retrieved April 30 2021 Williams Grand Comics Database Retrieved April 30 2021 Kustannus Oy Williams Grand Comics Database Retrieved April 30 2021 Williams France Grand Comics Database Retrieved April 30 2021 BSV Williams Grand Comics Database Retrieved April 30 2021 Edizioni Williams Inteuropa Grand Comics Database Retrieved April 30 2021 Classics Williams Grand Comics Database Retrieved April 30 2021 Illustrerte Klassikere Williams Forlag Grand Comics Database Retrieved June 22 2021 Williams Forlags AB Grand Comics Database Retrieved April 30 2021 Copyrights of Golden Age Comics Golden Age Comic book Superheroes amp Villains Encyclopedia Retrieved September 20 2011 Norris Floyd March 5 1989 Time Inc and Warner to Merge Creating Largest Media Company The New York Times ISSN 0362 4331 Retrieved March 18 2019 P M Briefing 2 Simon amp Schuster Units Sold Los Angeles Times October 31 1989 Retrieved October 26 2021 URGENT Delaware Court Rules In Favor Of Time Warner Merger AP NEWS Retrieved 2022 05 05 You Must Remember This The Warner Bros Story 2008 p 255 WB retained a pair of features from 1949 that they merely distributed and all short subjects released on or after September 1 1948 in addition to all cartoons released in August 1948 Fabrikant Geraldine October 11 1996 Holders Back Time Warner Turner Merger The New York Times ISSN 0362 4331 Retrieved March 18 2019 TURNER ACQUIRING MOVIE COMPANIES The Morning Call 18 August 1993 Retrieved 2022 05 05 Bryant Rebecca September 21 1993 Time Warner Completes Six Flags Purchase Amusement Company will use more of its cartoon characters at theme parks including site near Valencia Los Angeles Times Time Warner COO For Media Corporate Diversity Is About Business Time The winning streak The Economist WordPress com Wordpress com June 18 2013 Archived from the original on June 18 2013 Retrieved December 16 2017 CNN News Website Wikipedia labnol org DVD Basics and History Spannerworks net HBO CTO Zitter to Step Down Multichannel com Archived from the original on February 23 2013 Retrieved July 25 2020 Statistics on Mergers amp Acquisitions M amp A M amp A Courses Company Valuation Courses Mergers amp Acquisitions Courses Imaa institute org Archived from the original on January 6 2012 Retrieved December 27 2011 a b America Online and Time Warner Will Merge to Create World s First Internet Age Media and Communications Company Time Warner corporate homepage January 10 2000 Retrieved May 6 2007 permanent dead link Munk Nina 2004 Fools Rush In a b Federal Communications Commission March 25 2003 America Online Time Warner Merger Page Federal Communications Commission homepage Retrieved May 6 2007 permanent dead link Federal Trade Commission December 14 2000 FTC Approves AOL Time Warner Merger with Conditions Federal Trade Commission website Archived from the original on May 16 2007 Retrieved May 6 2007 Patrick Ross Evan Hansen January 11 2001 AOL Time Warner complete merger with FCC blessing CNET News com Retrieved May 6 2007 EU statement AOL Time Warner BBC News Online October 11 2000 Retrieved May 6 2007 a b Power Failure Nina Munk Archived from the original on July 14 2011 Retrieved June 25 2013 Li Kenneth July 26 2006 AOL expected to scrap charges Yahoo News Yahoo Archived from the original on August 18 2006 Retrieved August 9 2006 a b c Anthony Bianco Cover Stories Ajbianco com May 19 2003 Archived from the original on May 18 2010 Retrieved December 27 2011 Roberts Johnnie L 2001 12 16 Make Way For The Ceo Newsweek Retrieved 2022 05 05 a b The 125 Million Sweet DailyCandy Revenge of Bob Pitchman Kara Swisher News AllThingsD Kara allthingsd com August 6 2008 Retrieved December 27 2011 a b Hagan Joe Pittman s Last Stand The New York Observer Observer com Retrieved December 27 2011 Pittman to leave AOL Time Warner CNET News CNET CBS Interactive Retrieved December 27 2011 Roberts Joel October 22 2003 Time Warner Drops AOL Name CBS News Retrieved February 12 2020 Time Life Unit Sold to Private Investing Group Warner Music to be sold for 2 6B CNN Money November 24 2003 Retrieved March 17 2020 CNN com Steve Case quits Time Warner board Oct 31 2005 CNN Retrieved May 25 2010 Barnett amp Andrews Emma amp Amanda September 28 2010 AOL merger was the biggest mistake in corporate history believes Time Warner chief Jeff Bewkes London Telegraph Media Group Limited Archived from the original on January 10 2022 Retrieved February 26 2013 Drinkard Jim January 17 2005 Donors get good seats great access this week USA Today Gannett Company Retrieved May 25 2008 Financing the inauguration USA Today Gannett Company January 16 2005 Retrieved May 25 2008 Some question inaugural s multi million price tag USA Today Gannett Company January 14 2005 Retrieved May 25 2008 Time Warner May End Reign as Largest Media Company Update2 bloomberg com Archived from the original on February 21 2012 Waxman Sharon February 28 2008 RIP Bob Shaye and Michael Lynne TheWrap Retrieved September 10 2020 Time Warner Cable Spinoff to Finish Next Month The New York Times February 27 2009 Retrieved May 25 2010 Smith Aaron Time Warner to split off AOL Money cnn com Retrieved November 9 2017 HBO Europe HBO Europe Retrieved June 25 2013 Busfield Steve August 5 2010 Time Warner buys Shed Media the Guardian Press Releases Time Warner Archived from the original on November 6 2018 Retrieved July 25 2020 Time Warner buys broadcaster Chilevision Reuters August 25 2010 Archived from the original on September 24 2015 Retrieved July 2 2017 Press Releases Time Warner Knegt Peter 2011 05 04 Warner Brothers Buys Flixster Rotten Tomatoes IndieWire Retrieved 2022 05 05 Goldberg Lesley June 11 2012 Warner Bros TV Group Acquires Gossip Girl Producer Alloy Entertainment The Hollywood Reporter Eldridge Industries Update It s Done Time Warner Buys Bleacher Report Price Reportedly 175M TechCrunch Oath Inc May 23 2011 Retrieved July 17 2012 Chozick Amy March 6 2013 Time Warner Ends Talks With Meredith and Will Spin Off Time Inc Into Separate Company Mediadecoder blogs nytimes com Lieberman David June 9 2014 Time Inc Shares Slip As Magazine Company Goes Public Deadline Hollywood Penske Media Corporation Retrieved October 20 2016 Time Warner Press Releases Time Warner January 16 2014 Retrieved July 31 2014 Bagli Charles V January 16 2014 Time Warner Is Planning a Move to Hudson Yards The New York Times ISSN 0362 4331 Retrieved March 18 2019 Sorkin Andrew Ross de la Merced Michael J July 17 2014 Murdoch Puts Time Warner on His Wish List DealBook Retrieved March 18 2019 Lieberman David August 5 2014 RUPE S REVERSAL Fox Withdraws Time Warner Bid Will Spend 6B To Repurchase Shares Deadline Hollywood Penske Media Corporation Retrieved March 23 2021 Hammond Ed Sherman Alex Moritz Scott October 20 2016 AT amp T Discussed Idea of Takeover in Time Warner Meetings Bloomberg Retrieved October 20 2016 Yu Roger October 20 2016 Time Warner shares soar on AT amp T s interest USA Today Gannett Company Retrieved October 20 2016 Yu Roger October 22 2016 AT amp T agrees to buy Time Warner for 85 4 billion USA Today Gannett Company Retrieved October 22 2016 Gryta Thomas Hagey Keach Cimilluca Dana Sharma Amol October 23 2016 AT amp T Reaches Deal to Buy Time Warner for 85 4 Billion The Wall Street Journal ISSN 0099 9660 Retrieved March 18 2019 Chandler Adam Why the AT amp T Time Warner Deal Is So Unpopular The Atlantic Retrieved November 8 2017 Kludt Tom February 15 2017 Time Warner shareholders vote to approve AT amp T merger CNNMoney Time Warner FCC chief AT amp T Time Warner deal won t face agency s scrutiny USA Today European Commission Approves AT amp T Acquisition of Time Warner The Hollywood Reporter Aycock Jason August 22 2017 AT amp T s 85B Time Warner deal gets Mexico s approval Seeking Alpha Retrieved August 22 2017 Munson Ben September 5 2017 AT amp T Time Warner merger approved with conditions by Chilean regulators Fierce Cable Archived from the original on December 1 2017 Retrieved November 21 2017 Flint Drew FitzGerald Joe Donald Trump hasn t been able to kill the AT amp T Time Warner deal now in advanced stage MarketWatch Retrieved November 8 2017 Levin Bess Did the White House Just Use the Time Warner AT amp T Deal to Threaten CNN The Hive Retrieved October 27 2017 Johnson Ted July 11 2017 Senators Press Trump on White House Contacts Over AT amp T Time Warner Merger Variety Retrieved October 27 2017 Senator Concerned That Trump CNN Clash Could Doom AT amp T Time Warner Deal The Hollywood Reporter Retrieved October 27 2017 White House could use AT amp T Time Warner deal as leverage against CNN Ars Technica Retrieved October 27 2017 Government never tried to force CNN sale in AT amp T Time Warner deal official says CNBC November 9 2017 Retrieved November 10 2017 Johnson Ted November 9 2017 AT amp T CEO Randall Stephenson We re Not Selling CNN and We ll Fight for Time Warner in Court Variety Retrieved November 10 2017 James Meg AT amp T says it will not sell CNN despite pressure from Trump s Justice Department Los Angeles Times Retrieved November 8 2017 permanent dead link Steinberg Brian November 8 2017 AT amp T Can t Easily Cut a Connection With CNN or Turner Analysis Variety Retrieved November 8 2017 Foden Sara McLaughlin David Moritz Scott November 20 2017 AT amp T Sued by U S Seeking to Block Merger With Time Warner Bloomberg Retrieved November 20 2017 Littleton Cynthia December 22 2017 AT amp T Time Warner Extend Merger Agreement Deadline as Trial Looms Variety Retrieved December 22 2017 Winkler Elizabeth June 12 2018 AT amp T Time Warner Judge Fires Starting Gun in the Battle Against Tech The Wall Street Journal ISSN 0099 9660 Retrieved June 12 2018 AT amp T Time Warner merger approved setting the stage for more consolidation across corporate America June 12 2018 Kang Cecilia June 12 2018 Why the AT amp T Time Warner Case Was So Closely Watched The New York Times ISSN 0362 4331 Retrieved March 18 2019 Johnson Ted June 12 2018 AT amp T Time Warner Merger Approved Variety Retrieved June 12 2018 Kang Cecilia Lee Edmund July 12 2018 AT amp T Time Warner Deal Approval Gets Justice Department Challenge The New York Times ISSN 0362 4331 Retrieved March 18 2019 Shapiro Ariel July 13 2018 DOJ challenge to AT amp T Time Warner deal could affect Disney and Comcast s bidding war for Fox says AT amp T s Stephenson CNBC Retrieved August 6 2018 Justice Department appeal says AT amp T Time Warner merger decision is contrary to fundamental economic logic The Verge Retrieved August 6 2018 Justice Dept calls judge s approval of AT amp T Time Warner merger deeply flawed Washington Post Retrieved August 6 2018 Spangler Todd August 7 2018 AT amp T Buys Out Chernin Group s Stake in Otter Media Variety Retrieved August 10 2018 Salinas Sara August 7 2018 AT amp T buys Otter Media carrying on with M amp A strategy despite DOJ challenge CNBC Retrieved August 9 2018 Full Q amp A Assistant Attorney General Makan Delrahim talks antitrust on Recode Decode Recode September 2018 Retrieved September 1 2018 AT amp T CEO Randall Stephenson Netflix is Walmart of video streaming CNBC September 12 2018 AT amp T CEO Netflix is Walmart of video streaming HBO is Tiffany September 12 2018 Nine state attorneys general back AT amp T in Time Warner appeal Reuters September 27 2018 Lee Ryan Faughnder Wendy October 10 2018 WarnerMedia announces new streaming service to compete with Netflix and Disney Los Angeles Times Retrieved October 13 2018 Kevin Reilly Named Head of Content amp Strategy for WarnerMedia s New Streaming Service December 14 2018 Kevin Reilly to Run Content for WarnerMedia Streaming Service Hollywood Reporter www hollywoodreporter com December 14 2018 Kevin Reilly Named Content Chief for WarnerMedia Streaming Service December 14 2018 U S appeals court OKs 81 billion merger of AT amp T and Time Warner CBS News February 27 2019 U S Justice Department will not appeal AT amp T Time Warner merger after court loss Reuters February 26 2019 Feiner Lauren March 4 2019 WarnerMedia reorganizes its leadership team after AT amp T acquisition CNBC Retrieved March 4 2019 Flint Joe March 2 2019 AT amp T to HBO Turner No More Fiefdoms The Wall Street Journal ISSN 0099 9660 Retrieved March 18 2019 Rubin Rebecca June 6 2017 TV News Roundup Zoe Saldana to Develop Adaptation of Israeli Unscripted Series Mothers Variety Retrieved July 11 2019 Moss E B May 2 2019 Corralling Conan to CNN Building the WarnerMedia Podcast Network MediaVillage Retrieved July 11 2019 Littleton Cynthia May 16 2019 Kevin Reilly Signs New Deal With WarnerMedia Takes Over TruTV Variety Retrieved July 10 2019 Spangler Todd May 31 2019 WarnerMedia Reorg Gives Otter Media s Tony Goncalves Oversight of Streaming Service Development Variety Retrieved July 9 2019 Spangler Todd July 9 2019 Friends to Leave Netflix for WarnerMedia s HBO Max Streaming Service in 2020 Variety Retrieved July 9 2019 Roberts Samuel May 27 2020 HBO Max price free trial movies the Snyder Cut and more explained TechRadar Retrieved May 28 2020 Littleton Cynthia April 1 2020 Former Hulu Chief Jason Kilar Named CEO of WarnerMedia Variety Retrieved April 24 2020 Owusu Tony August 10 2020 AT amp T WarnerMedia Is Said to Cut Hundreds of Jobs The Street Retrieved August 13 2020 Siegel Tatiana August 10 2020 WarnerMedia Begins Massive Round of Layoffs Hollywood Reporter www hollywoodreporter com Retrieved August 20 2020 gt Tatiana Siegel August 10 2020 WarnerMedia Begins Massive Round of Layoffs The Hollywood Reporter Billboard Hollywood Reporter Media Group Retrieved August 31 2020 FitzGerald Drew Flint Joe Mullin Benjamin October 8 2020 WarnerMedia Plans Thousands of Job Cuts in Restructuring The Wall Street Journal Retrieved October 9 2020 Ahmed Nabila Moritz Scott September 1 2020 AT amp T to Scrap Sale of Warner Bros Video Game Unit Bloomberg com Archived from the original on September 4 2020 Retrieved October 9 2020 Moore D M December 9 2020 Sony s Funimation acquires anime streaming service Crunchyroll for 1 175 billion Polygon Archived from the original on February 2 2021 Retrieved December 9 2020 Mateo Alex August 9 2021 Sony s Funimation Global Group Completes Acquisition of Crunchyroll from AT amp T Anime News Network Archived from the original on August 9 2021 Retrieved August 9 2021 WarnerMedia Acquires You i TV Bloomberg December 21 2020 Retrieved December 21 2020 WarnerMedia buys You i TV ahead of HBO Max global expansion Fierce Video December 22 2020 Archived from the original on December 22 2020 Retrieved December 22 2020 Sherman Alex May 16 2021 AT amp T in advanced talks to merge WarnerMedia with Discovery deal expected as soon as tomorrow CNBC Retrieved May 16 2021 Goldsmith Jill June 1 2021 Warner Bros Discovery Set As Name Of Merged Company Deadline Hollywood Retrieved June 1 2021 Meredith Steve Kovach Sam May 17 2021 AT amp T announces 43 billion deal to merge WarnerMedia with Discovery CNBC Retrieved May 17 2021 Hayes Dade May 17 2021 David Zaslav And John Stankey Outline Plans For Merging Discovery And WarnerMedia Addressing Future Of Jason Kilar CNN Streaming Deadline Hollywood Retrieved May 17 2021 Goldsmith Jill June 23 2021 AT amp T WarnerMedia Sell Playdemic Mobile Game Studio To Electronic Arts For 1 4 Billion Deadline Hollywood Retrieved June 23 2021 Hayes Dade September 13 2021 Fox Entertainment Closes Acquisition Of TMZ From WarnerMedia Yahoo Retrieved September 13 2021 Bunson Ben November 3 2021 Discovery HBO Max may bundle before combining after merger FierceVideo Archived from the original on November 11 2021 Retrieved November 11 2021 Goldsmith Jill November 18 2021 Discovery AT amp T s WarnerMedia Talks Collapsed In April Before They Clinched May Deal According To Massive SEC Filing Deadline Hollywood Retrieved November 18 2021 Vlessing Etan December 22 2021 Discovery WarnerMedia Merger Gets European Union Approval The Hollywood Reporter Retrieved December 22 2021 European Commission grants approval for Discovery acquisition of WarnerMedia Reuters December 22 2021 Retrieved December 22 2021 Flint Joe January 5 2022 WarnerMedia and ViacomCBS Are Exploring Possible Sale of CW Network The Wall Street Journal Retrieved January 6 2022 Weprin Alex Goldberg Lesley January 12 2022 Will The CW Be a Streaming Wars Casualty The Hollywood Reporter Retrieved January 12 2022 Farley Ashley January 13 2022 REPORT The CW s Potential Sale May Kill Its Original Programming Comic Book Resources Retrieved January 14 2022 Goldberg Lesley Weprin Alex January 6 2022 ViacomCBS and WarnerMedia Exploring Sale of The CW The Hollywood Reporter Retrieved January 9 2022 Andreeva Nellie January 6 2022 The CW CEO Mark Pedowitz Confirms WarnerMedia amp ViacomCBS Exploring Strategic Opportunities As Majority Stake In Network Is Shopped With Nexstar Among Suitors As Majority Stake In Network Is Shopped With Nexstar Among Suitors Update Deadline Hollywood Retrieved January 6 2022 Hepburn Tmera January 26 2022 WarnerMedia and Discovery Merger Now Expected to Close This Spring Cord Cutters News Retrieved January 27 2022 Pinto Jordan January 27 2022 WarnerMedia Discovery merger expected to close in Q2 says AT amp T s Stankey C21 Media Retrieved January 27 2022 Spangler Todd February 1 2022 AT amp T Sets Plan to Spin Off WarnerMedia in 43 Billion Deal Variety Retrieved February 1 2022 Szalai George February 1 2022 AT amp T Picks WarnerMedia Spin Off as Structure for Key Step in Discovery Merger The Hollywood Reporter Retrieved February 1 2022 Cade surpreende e aprova fusao Discovery WarnerMedia sem restricoes Noticias da TV in Portuguese February 7 2022 Szalai Georg February 9 2022 Discovery WarnerMedia Merger Gets U S Antitrust Clearance The Hollywood Reporter Retrieved February 9 2022 Goldsmith Jill February 10 2022 Discovery Sets March 11 For Shareholder Vote On WarnerMedia Merger Deadline Hollywood Retrieved February 10 2022 Discovery Shareholders Approve 43 Billion WarnerMedia Merger Variety 11 March 2022 Retrieved March 11 2022 Maas Jennifer February 23 2022 AT amp T Discovery Prepare for Mid April Close of WarnerMedia Deal Variety Retrieved February 27 2022 AT amp T Announces Details for Completion of WM Spin Off AT amp T March 25 2022 Retrieved March 26 2022 Hayes Dade D Alessandro Anthony April 5 2022 Ann Sarnoff Departing As WarnerMedia Studios And Networks Chief Deadline Hollywood Retrieved April 6 2022 Maas Jennifer April 6 2022 Discovery Makes Big WarnerMedia Executive Suite Changes Ahead of Merger Toby Emmerich and Gerhard Zeiler to Remain Variety Retrieved April 7 2022 Koblin John April 8 2022 Hollywood Gets a New Giant The New York Times Retrieved April 8 2022 a b c d e WarnerMedia Organization Update August 7 2020 External links EditOfficial website Retrieved from https en wikipedia org w index php title WarnerMedia amp oldid 1148546574 Warner Communications 1972 1990, wikipedia, wiki, book, books, library,

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