Turner CEO John Martin is leaving the company after AT&T completed its acquisition of Time Warner, bringing together global media and entertainment leaders Warner Bros, HBO and Turner, with its technology, video, mobile and broadband businesses.
The news of Maertin’s departure was announced in an internal memo by John Stankey, CEO of AT&T’s media business. Following his departure, David Levy, president of Turner, Gerhard Zeiler, president of Turner International, and Jeff Zucker, president of CNN Worldwide, will report to Stankey.
Jeff Bewkes, former chairman and CEO of Time Warner, has agreed to remain with the company as a senior advisor during a transition period.
Randall Stephenson, chairman and CEO of AT&T, commented on the closure of the acquisition: “The content and creative talent at Warner Bros., HBO and Turner are first-rate. Combine all that with AT&T’s strengths in direct-to-consumer distribution, and we offer customers a differentiated, high-quality, mobile-first entertainment experience. We’re going to bring a fresh approach to how the media and entertainment industry works for consumers, content creators, distributors and advertisers.”
AT&T will now consist of four business: AT&T Communications provides mobile, broadband, video and other communications services; AT&T’s media business consists of HBO, Turner and Warner Bros, and will be known as WarnerMedia.
Furthermore, AT&T International provides mobile services in Mexico to consumers and businesses, plus pay-TV service across 11 countries in South America and the Caribbean; and AT&T’s advertising and analytics business, which provides marketers with advanced advertising solutions using customer insights from AT&T’s TV, mobile and broadband services, combined with extensive ad inventory from Turner and AT&T’s pay-TV services. A name for this company will be announced in the future.