AT&T restructures WarnerMedia to gird for Netflix fight: memo [Reuters (UK)]
AT&T Inc. (T)
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Source: Reuters
AT&T restructures WarnerMedia to gird for Netflix fight: memo | Reuters 2 Min Read (Reuters) - AT&T Inc is restructuring its WarnerMedia business, according to a memo sent to employees on Monday and seen by Reuters, as it girds for a streaming video battle with Netflix Inc and Walt Disney Co. The restructuring comes ahead of an anticipated round of significant layoffs and cost cuts and right after the resignation of two high-profile executives - Richard Plepler, the head of HBO and David Levy, president of Turner Broadcasting - as AT&T aims to reinvest savings into its programing businesses. “At a time when we must shift our investment focus to develop more content for specific and demanding audiences on emerging platforms, we can’t sustain a model where we invest one dollar more than necessary in the administrative aspects of running our business,” WarnerMedia Chief Executive Officer John Stankey said in the memo. “Put simply, our priority is to direct resources to product developmen
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News
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T
Earnings
- 1/24/24 - Miss
T
Sec Filings
- 4/16/24 - Form PX14A6G
- 4/8/24 - Form DEFA14A
- 4/4/24 - Form ARS
- T's page on the SEC website