Thursday, June 14, 2018

AT&T Tight-Lipped On Possible New Corporate Name

While AT&T on Wednesday was being tight-lipped about it, the Time-Warner corporate name is not long for this world, according to The NYPost.

The 28-year-old name — formed in 1990 with the merger of Time Inc. and Warner Communications — will be retired in the coming weeks should the megamerger not be delayed during an appeal.

As it is, the Time Warner name has been outdated since at least June 2014, when the media company spun out Time Inc.

Rumors swirling in media circles have it that Turner Chief Executive John Martin will step down shortly after the $85 billion deal closes. In addition, the merger will trigger a golden parachute with a payout of at least $79 million for Time Warner CEO Jeff Bewkes.
Bewkes is expected to stick around for a while to help John Stankey, president of AT&T’s entertainment group, with the transition.

In addition:
  • CNN boss Jeff Zucker and HBO Chief Executive Richard Plepler are expected to remain in their roles at the company
  • Layoffs at Time Warner corporate will take shape not too long after the deal closes, sources sai
  •  AT&T and Time Warner top executives will go on a media-appearance road show, giving details on the new merged company.

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