That's all folks!
WarnerMedia is the new name for Time Warner, according to an internal memo from the AT&T executive who is taking charge of the media company, John Stankey.
The telecom firm said that customer confusion with Time Warner Cable, long since spun off from the company, was the reason for the change.
The memo also outlined a host of corporate executives who are to leave WarnerMedia as a result of the acquisition. CEO Jeff Bewkes has said previously he would leave after the transition.
The departures include the head of the Turner division, John Martin, a former chief financial officer for Time Warner who was poised to run the whole company at one point in history. Turner houses CNN, TNT and TBS among other assets.
At a recent conference, Martin had criticized AT&T's DirectTV unit, describing its poor service. The statements were received by many as clues that he didn't want to stick around.
For now, the memo seems to suggest that Stankey will play a much more active role at Turner, thought he will be limited in what he can do until the firm knows whether the Justice Department will appeal against a ruling allowing AT&T and Time Warner to merge. That could take up to 60 days.
In an unusual move, Stankey didn't name a successor to Martin from among the company's ranks and perhaps appeared to set up a three-way race to lead the Turner division listing three top executives there:
- David Levy, president, who runs not only the ad sales unit at AT&T that the company hopes to capitalize on, but is responsible for buying its sports rights.
- Also listed are Gerhard Zeiler, head of international, and Jeff Zucker, president of CNN Worldwide.
Other top executives to depart include Gary Ginsberg, an executive vice president of corporate marketing who joined after counseling Rupert Murdoch for many years at News Corporation.
Also on the way out at Time Warner: Howard Averill, chief financial officer; Karen Magee, chief human resources officer; Carol Melton, EVP of global public policy; and Olaf Olafsson, EVP of international and corporate strategy.
Stankey praised the team in his memo: "Over the course of their tenure, this highly accomplished team fended off a hostile takeover by a rival media company (Fox), put in place plans to consolidate the New York-based offices into the Hudson Yards complex (which will be the most advanced office space in New York), and successfully restructured the company, ultimately positioning us to succeed in this new chapter."
Stankey welcomed the Time Warner staff with a note about all the AT&T deals they're now eligible for.
The company also confirmed an early plan to give away a free TV package to AT&T wireless customers.
Martin did not return a request for comment.