AT&T executives to run
combined company after Time Warner deal
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[July 29, 2017]
NEW YORK (Reuters) - AT&T Inc <T.N>
said on Friday that its executives will head its media and wireless
businesses following the close of its $85.4 billion acquisition of Time
Warner Inc <TWX.N>.
As of Aug. 1, John Stankey, who currently leads DirecTV and other
entertainment businesses for the No. 2 U.S. wireless carrier, will lead
the team charged with Time Warner's integration before transitioning to
chief executive of the media business once the merger is complete. John
Donovan, currently chief strategy officer, has been named chief
executive of AT&T Communications, which will include AT&T's wireless and
The deal, expected to close by the end of the year, would give AT&T
control of cable TV channels HBO and CNN, film studio Warner Bros and
other coveted media assets. It still needs approval from the U.S.
AT&T also said that Lori Lee will lead AT&T's international business in
addition to her responsibilities as global marketing officer.
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Signage for an AT&T store is seen in New York October 29, 2014. AT&T
Inc has made a bid for Yahoo Inc's internet business, Bloomberg
reported on Wednesday, citing people familiar with the matter.
REUTERS/Shannon Stapleton/File Photo
The three executives will continue to report to AT&T Chief Executive Randall
Stephenson, AT&T said.
A source told Reuters earlier this month that AT&T would run its wireless and
DirecTV satellite television businesses separately from Time Warner Inc's media
assets following its acquisition of the entertainment group.
AT&T shares were up 8 cents at $39.08 in after-hours trading.
(Reporting by Anjali Athavaley; Editing by Lisa Shumaker)
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