Time Warner is changing its name to WarnerMedia; Turner CEO to depart [CNBC]
TIME WARNER INC (TWX)
Last time warner inc earnings: 4/26 08:00 am
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Source: CNBC
Time Warner is changing its name to WarnerMedia now that its $85 billion deal with AT&T has closed, and Turner CEO John Martin is departing the company, according to an internal memo from an AT&T executive. The memo, written by John Stankey, the new head of Time Warner, outlined a new operating structure for the combined entity. AT&T and Time Warner are incredibly storied and capable companies. However, both companies face an industry structure and competitive landscape that clearly places a premium on innovation and speed like no other time in our respective histories, Stankey wrote. --CNBC's Julia Boorstin contributed to this report. This story is developing. Please check back for updates.
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