Killing a 100 year old brand is going to take a lot of work that you could pitch
Steve’s breakdown: AT&T is going to kill the Time Warner corporate name but one has to think the communications to do that will be staggering. And we’re just talking about internal and shareholder communications.
NEW YORK, NY: AT&T, gearing up to take charge of Time Warner, plans to dump the media company’s corporate name as well as name a new Jeff Bewkes to oversee its units, The Post has learned.
The telecom giant has approached potential candidates for a position that would sit above Time Warner’s Turner, HBO and Warner Bros. units and report to AT&T Entertainment chief John Stankey, sources said.
Bewkes, the current Time Warner chief executive, is expected to exit as soon as the deal closes — with a $95 million going-away prize.
AT&T had initially hoped that media vet Peter Chernin would fill the new role, though he said no, sources said.
The company has hired Heidrick & Struggles to conduct the search, sources told The Post.
Disney’s chief strategy officer, Kevin Mayer, was one executive interviewed for the new post, sources said, but told them he had no desire to leave his post.
Stankey, who had been in charge of the company’s DirecTV unit, will lead Time Warner’s content assets after the deal closes.
While AT&T has said the $85.4 billion deal will close by Dec. 31, insiders are expecting it to be completed well before then.
AT&T is expected to wipe out around two-thirds of the staff in the corporate unit, sources said. The company is also planning to create an ad tech platform across the company.
The potential new hire is perhaps a way to keep two of the top three Time Warner execs — Turner Broadcasting’s John Martin, HBO’s Richard Plepler and Kevin Tsujihara of Warner Bros. — from bolting if one of them is promoted.
An AT&T spokesman declined to comment.