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AT&T restructures WarnerMedia as it braces for battle with Netflix, Disney

The restructuring comes ahead of an anticipated round of significant layoffs and cost cuts

Reuters 

Corporate wars: Netflix, Prime in tussle to expand, show original content

is restructuring its business, according to a memo sent to employees on Monday and seen by Reuters, as it girds for a battle with and Walt

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 aims to reinvest savings into its programming 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,” CEO said in the memo. “Put simply, our priority is to direct resources to product development and innovation.”

Robert Greenblatt, a former executive at Comcast Corp's unit, will oversee premium cable network HBO, cable channels TNT, TBS, Tru TV and the upcoming video streaming service as chairman of Entertainment.

CNN chief Jeff Zucker will add oversight of sports programming across the company as chairman of News and Sports.

First Published: Tue, March 05 2019. 02:21 IST
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