PGA officials were in the hot seat on Tuesday as they faced lawmakers questions about the tour’s abrupt reversal that led to a deal with Saudi-backed rival Liv, despite months of criticism over the human rights record of the Saudi gpvernment.
At a hearing of the Senate Homeland Security Permanent Subcommittee On Investigations, PGA COO Ron Price, pressed to provide an estimate of just how much the Saudi Arabian Public Investment Fund would contribute to a new entity, said that “north of $1 billion” was being discussed, but that negotiations on a final agreement were ongoing.
Price and Jimmy Dunne, board member of the PGA Tour, said that the new entity would still be controlled by the PGA. They each stressed to lawmakers that the PGA decided to enter into the agreement rather than face years of litigation and a division among its athletes, as well as the threat posed by the rival Liv league,...
At a hearing of the Senate Homeland Security Permanent Subcommittee On Investigations, PGA COO Ron Price, pressed to provide an estimate of just how much the Saudi Arabian Public Investment Fund would contribute to a new entity, said that “north of $1 billion” was being discussed, but that negotiations on a final agreement were ongoing.
Price and Jimmy Dunne, board member of the PGA Tour, said that the new entity would still be controlled by the PGA. They each stressed to lawmakers that the PGA decided to enter into the agreement rather than face years of litigation and a division among its athletes, as well as the threat posed by the rival Liv league,...
- 7/11/2023
- by Ted Johnson
- Deadline Film + TV
Randall Stephenson, the former chairman and CEO of AT&T and architect of the telecom giant’s ill-fated acquisition of Time Warner, has resigned from the policy board of the Professional Golf Association at a critical moment.
On Tuesday morning, PGA officials and others are expected to testify before the Senate Permanent Subcommittee on Investigations, which is chaired by Sen. Richard Blumenthal (D-Ct). Among those the committee will question are Jimmy Dunne, the policy board member who helped broker the deal, and Ron Price, the PGA Tour’s chief operating officer.
Stephenson, who had been a member of the influential policy board since 2012, stepped down from it over the weekend, with his sharply worded resignation letter reported by the Washington Post, The New York Times and others. The exec said he could not abide the deal brokered between the PGA and upstart rival Liv, which is funded by the Saudi Arabian Public Investment Fund.
On Tuesday morning, PGA officials and others are expected to testify before the Senate Permanent Subcommittee on Investigations, which is chaired by Sen. Richard Blumenthal (D-Ct). Among those the committee will question are Jimmy Dunne, the policy board member who helped broker the deal, and Ron Price, the PGA Tour’s chief operating officer.
Stephenson, who had been a member of the influential policy board since 2012, stepped down from it over the weekend, with his sharply worded resignation letter reported by the Washington Post, The New York Times and others. The exec said he could not abide the deal brokered between the PGA and upstart rival Liv, which is funded by the Saudi Arabian Public Investment Fund.
- 7/10/2023
- by Dade Hayes
- Deadline Film + TV
AT&T’s chief executive John Stankey had a $24.8 million salary in 2021, as compared to his $21 million pay the year prior and $22.5 million earnings in 2019, per the telecommunications giant’s Securities and Exchange Commission filing made available Tuesday.
While the CEO made a base salary of $2.4 million in 2021 (slightly higher than his $2.05 million in 2020), he received stock awards valued at $13.42 million. However, Stankey’s non-equity incentive plan more than doubled from $3.25 million to $6.88 million from 2020 to 2021.
According to the filing, CFO Pascal Desroches received $11.7 million overall compensation in 2021, his first year in the position. AT&T’s executive chairman, Randall Stephenson, who is now retired, was given a total payout of $16.3 million in 2021, compared with $29.1 million in 2020.
AT&T, which is looking to spin off WarnerMedia in a $43 billion deal to merge its media properties with Discovery, did not disclose the last year’s overall pay package for WarnerMedia CEO Jason Kilar.
While the CEO made a base salary of $2.4 million in 2021 (slightly higher than his $2.05 million in 2020), he received stock awards valued at $13.42 million. However, Stankey’s non-equity incentive plan more than doubled from $3.25 million to $6.88 million from 2020 to 2021.
According to the filing, CFO Pascal Desroches received $11.7 million overall compensation in 2021, his first year in the position. AT&T’s executive chairman, Randall Stephenson, who is now retired, was given a total payout of $16.3 million in 2021, compared with $29.1 million in 2020.
AT&T, which is looking to spin off WarnerMedia in a $43 billion deal to merge its media properties with Discovery, did not disclose the last year’s overall pay package for WarnerMedia CEO Jason Kilar.
- 3/22/2022
- by Natalie Oganesyan
- The Wrap
AT&T CEO John Stankey’s pay for 2021 rose 18% over the previous year to $24.8 million, per the company’s SEC filing Tuesday.
His base salary for the year, his first full year as CEO, was $2.4 million, with a non-equity incentive plan compensation of $6.88 million. His stock awards totaled $13.42 million, with “other” compensation listed at $643,669.
In 2020, Stankey made $21 million and the year before that he was paid $22.5 million.
AT&T did not disclose the 2021 pay for WarnerMedia CEO Jason Kilar among its other top executives. AT&T is in the process of spinning off WarnerMedia to Discovery, Inc., a transaction that has received regulatory approval from both companies’ boards, the U.S. government, the European Commission and Discovery’s shareholders. The deal is expected to close early next month.
Meanwhile, retired executive chairman Randall Stephenson was paid $16.3 million last year versus $29 million in 2020, when he was still CEO of AT&T for a portion of the year.
His base salary for the year, his first full year as CEO, was $2.4 million, with a non-equity incentive plan compensation of $6.88 million. His stock awards totaled $13.42 million, with “other” compensation listed at $643,669.
In 2020, Stankey made $21 million and the year before that he was paid $22.5 million.
AT&T did not disclose the 2021 pay for WarnerMedia CEO Jason Kilar among its other top executives. AT&T is in the process of spinning off WarnerMedia to Discovery, Inc., a transaction that has received regulatory approval from both companies’ boards, the U.S. government, the European Commission and Discovery’s shareholders. The deal is expected to close early next month.
Meanwhile, retired executive chairman Randall Stephenson was paid $16.3 million last year versus $29 million in 2020, when he was still CEO of AT&T for a portion of the year.
- 3/22/2022
- by Jennifer Maas
- Variety Film + TV
AT&T chief executive John Stankey’s compensation totaled $24.8 million last year, up from $21 million the year earlier. According to a proxy statement filed with the SEC, retired CEO Randall Stephenson made $16.3 million in 2021 (down from $29 million).
Stephenson stepped down as CEO after 13 years at the helm in July of 2020 and continued as executive chairman through Jan. of 2021. Proxies usually include pay packages for a company’s five highest paid executives. AT&T listed seven including Stephenson. “AT&T is reporting a seventh Neo [named executive officer] this year to account for a retired Executive Officer who would have been among the most highly compensated group if working as an active Executive Officer at the end of the year,” the filing said.
When Stephenson stepped down Jan. 19 of 2021, AT&T said it had entered a one-year consulting contract with him for $1 million. Today’s proxy valued the consulting agreement at an $12 million. which it...
Stephenson stepped down as CEO after 13 years at the helm in July of 2020 and continued as executive chairman through Jan. of 2021. Proxies usually include pay packages for a company’s five highest paid executives. AT&T listed seven including Stephenson. “AT&T is reporting a seventh Neo [named executive officer] this year to account for a retired Executive Officer who would have been among the most highly compensated group if working as an active Executive Officer at the end of the year,” the filing said.
When Stephenson stepped down Jan. 19 of 2021, AT&T said it had entered a one-year consulting contract with him for $1 million. Today’s proxy valued the consulting agreement at an $12 million. which it...
- 3/22/2022
- by Jill Goldsmith
- Deadline Film + TV
Discovery investors voted in approval of the company’s $43 billion acquisition of WarnerMedia from AT&T to create Warner Bros. Discovery during a special meeting of stockholders on Friday, marking one of the final formal steps before the transaction can close.
The deal, a spinoff of WarnerMedia from AT&T, is expected to be completed early in Q2, with insiders telling Variety the estimated date is between April 11-28. The merger has already received approval from the U.S. Department of Justice and the boards of directors of both AT&T and Discovery.
WarnerMedia owns HBO, HBO Max, CNN, Warner Bros., DC Films, New Line Cinema, TBS, TNT, TruTV, Cartoon Network/Adult Swim, Turner Sports and Rooster Teeth, among other brands, and is part owner of the CW Network along with Paramount. Discovery is the parent of Discovery Plus, Discovery Channel, HGTV, Food Network, TLC, Investigation Discovery, Travel Channel, Turbo/Velocity, Animal Planet,...
The deal, a spinoff of WarnerMedia from AT&T, is expected to be completed early in Q2, with insiders telling Variety the estimated date is between April 11-28. The merger has already received approval from the U.S. Department of Justice and the boards of directors of both AT&T and Discovery.
WarnerMedia owns HBO, HBO Max, CNN, Warner Bros., DC Films, New Line Cinema, TBS, TNT, TruTV, Cartoon Network/Adult Swim, Turner Sports and Rooster Teeth, among other brands, and is part owner of the CW Network along with Paramount. Discovery is the parent of Discovery Plus, Discovery Channel, HGTV, Food Network, TLC, Investigation Discovery, Travel Channel, Turbo/Velocity, Animal Planet,...
- 3/11/2022
- by Jennifer Maas
- Variety Film + TV
WarnerMedia has been owned by telco giant AT&T for less than four years and it will soon have a new parent company — likely by the end of next month.
Discovery’s shareholder vote on the acquisition of WarnerMedia is set for today during a special meeting of stockholders at 10 a.m. Et. The deal is expected to get an easy thumbs-up given the approval already bestowed by Discovery’s oldest and most influential holders, investor John Malone and Advance/Newhouse Co. Both agreed to convert long-held preferred shares into common shares in order to smooth the path for the spinoff combination.
As Discovery conducts a mostly ceremonial poll of shareholders, AT&T is signaling the start of a new chapter. The telco giant will conduct a virtual investor conference at the exact same time as the vote to unveil its post-spinoff strategy. The push into entertainment was initiated by the...
Discovery’s shareholder vote on the acquisition of WarnerMedia is set for today during a special meeting of stockholders at 10 a.m. Et. The deal is expected to get an easy thumbs-up given the approval already bestowed by Discovery’s oldest and most influential holders, investor John Malone and Advance/Newhouse Co. Both agreed to convert long-held preferred shares into common shares in order to smooth the path for the spinoff combination.
As Discovery conducts a mostly ceremonial poll of shareholders, AT&T is signaling the start of a new chapter. The telco giant will conduct a virtual investor conference at the exact same time as the vote to unveil its post-spinoff strategy. The push into entertainment was initiated by the...
- 3/11/2022
- by Jennifer Maas
- Variety Film + TV
AT&T CEO John Stankey sees a period of “less uncertainty” ahead for the telecom giant as Covid-19 gradually eases and the spinoff of WarnerMedia is completed.
“If I think about where I sat last year, and maybe some of the anxiety and the pieces that had to be put in place,” he said during an online appearance at Goldman Sachs’s Communacopia conference. “My anxiety about showing up next year is not anywhere near what it was last year. I know the plays and I know what we need to do.”
Noting the company’s stagnant share price, he said “there’s uncertainty that’s hanging in the stock right now. Uncertainty because, will the [WarnerMedia-Discovery] transaction get approved in this regulatory environment, uncertainty because of forward-looking views on Ebitda, uncertainty about what the direct-to-market strategy will be for the media company that David talked about.”
The CEO spoke just...
“If I think about where I sat last year, and maybe some of the anxiety and the pieces that had to be put in place,” he said during an online appearance at Goldman Sachs’s Communacopia conference. “My anxiety about showing up next year is not anywhere near what it was last year. I know the plays and I know what we need to do.”
Noting the company’s stagnant share price, he said “there’s uncertainty that’s hanging in the stock right now. Uncertainty because, will the [WarnerMedia-Discovery] transaction get approved in this regulatory environment, uncertainty because of forward-looking views on Ebitda, uncertainty about what the direct-to-market strategy will be for the media company that David talked about.”
The CEO spoke just...
- 9/21/2021
- by Dade Hayes
- Deadline Film + TV
AT&T CEO John Stankey said the decision to spin off WarnerMedia — and merge it with Discovery — came down to his belief that investors have undervalued the media division under the telco’s ownership.
About WarnerMedia, he said, “It’s trading right now like a cable network asset,” speaking Tuesday at the Goldman Sachs Communacopia Conference. Following the separation from AT&T, “we should start to see [WarnerMedia] valued in the same way as other direct-to-consumer businesses,” said Stankey, no doubt eyeing the relatively high price-to-earnings multiple of the likes of Netflix.
He acknowledged that “there’s uncertainty hanging in the stock right now,” including whether the WarnerMedia-Discovery deal will get regulatory approval and, if so, what the direct-to-consumer strategy of the combined media entity will look like.
Stankey felt WarnerMedia’s management was executing well on their strategy, but that AT&T needed to separate its communications and media businesses to...
About WarnerMedia, he said, “It’s trading right now like a cable network asset,” speaking Tuesday at the Goldman Sachs Communacopia Conference. Following the separation from AT&T, “we should start to see [WarnerMedia] valued in the same way as other direct-to-consumer businesses,” said Stankey, no doubt eyeing the relatively high price-to-earnings multiple of the likes of Netflix.
He acknowledged that “there’s uncertainty hanging in the stock right now,” including whether the WarnerMedia-Discovery deal will get regulatory approval and, if so, what the direct-to-consumer strategy of the combined media entity will look like.
Stankey felt WarnerMedia’s management was executing well on their strategy, but that AT&T needed to separate its communications and media businesses to...
- 9/21/2021
- by Todd Spangler
- Variety Film + TV
CNN mid-morning anchor Poppy Harlow is going to take a hiatus from working on her program to tend to a legal matter: studying the law at Yale University.
Harlow, who has been with CNN since 2008, will be pursuing Yale Law School’s one-year Master of Studies in Law, a program aimed at people who are not attorneys but want to become more familiar with legal studies and apply knowledge of the law to the work they do. The degree is open to journalists. Linda Greenhouse, the longtime New York Times reporter who covered the Supreme Court for many years, attended the program. Harlow’s last regular day on air for now will be August 20.
“I’m here to stay for good as a journalist, but I wanted to learn more about the law,” Harlow explained in a recent interview. “I really felt that over the last year and a half.
Harlow, who has been with CNN since 2008, will be pursuing Yale Law School’s one-year Master of Studies in Law, a program aimed at people who are not attorneys but want to become more familiar with legal studies and apply knowledge of the law to the work they do. The degree is open to journalists. Linda Greenhouse, the longtime New York Times reporter who covered the Supreme Court for many years, attended the program. Harlow’s last regular day on air for now will be August 20.
“I’m here to stay for good as a journalist, but I wanted to learn more about the law,” Harlow explained in a recent interview. “I really felt that over the last year and a half.
- 8/17/2021
- by Brian Steinberg
- Variety Film + TV
AT&T continues to take a licking heading into the weekend with mogul Barry Diller describing plans to unload WarnerMedia as “a great escape” and calling its three-year dalliance with showbiz the telco giant’s latest bungle in a string of bad deals.
Never one to mince words, the founder of sprawling digital powerhouse Iac and former head of Fox and Paramount said, “It’s the power of monopoly. I mean, Ma Bell should have been dead and buried by now. I mean, they go into cable, only a few years later to say ‘oh my god we made a mistake’ and sell it. They go into Direct [DirecTV], and go into Time Warner with an idea, but certainly not fully fledged, and then they go about basically, I think, hurting Time Warner assets.”
AT&T acquired John Malone’s cable operator Tci in 1999, later selling the business to Charter and Comcast.
Never one to mince words, the founder of sprawling digital powerhouse Iac and former head of Fox and Paramount said, “It’s the power of monopoly. I mean, Ma Bell should have been dead and buried by now. I mean, they go into cable, only a few years later to say ‘oh my god we made a mistake’ and sell it. They go into Direct [DirecTV], and go into Time Warner with an idea, but certainly not fully fledged, and then they go about basically, I think, hurting Time Warner assets.”
AT&T acquired John Malone’s cable operator Tci in 1999, later selling the business to Charter and Comcast.
- 5/21/2021
- by Jill Goldsmith
- Deadline Film + TV
Bankers are already starting to salivate over what other megadeals could be in the offing following this week’s surprise pair-up of WarnerMedia and Discovery.
AT&T’s desperation to drop a company that it spent $85.4 billion and a year and half in legal fights to acquire raises the immediate question of what else might be possible in an era when Wall Street is pressuring big media conglomerates to keep generating content for audiences hungry to stream their favorite dramas and comedies.
Sure, smaller entertainment companies like Lionsgate and AMC Networks have long been seen as potential acquisition targets — and Amazon just offered a reported $9 billion to buy MGM for its vast library — but financial minds are starting to indulge their greatest scenarios. What if Apple swooped in and picked up a big media name? Do NBCUniversal and ViacomCBS need to add more heft even though they are both products of sizable mergers?...
AT&T’s desperation to drop a company that it spent $85.4 billion and a year and half in legal fights to acquire raises the immediate question of what else might be possible in an era when Wall Street is pressuring big media conglomerates to keep generating content for audiences hungry to stream their favorite dramas and comedies.
Sure, smaller entertainment companies like Lionsgate and AMC Networks have long been seen as potential acquisition targets — and Amazon just offered a reported $9 billion to buy MGM for its vast library — but financial minds are starting to indulge their greatest scenarios. What if Apple swooped in and picked up a big media name? Do NBCUniversal and ViacomCBS need to add more heft even though they are both products of sizable mergers?...
- 5/19/2021
- by Brian Steinberg and Brent Lang
- Variety Film + TV
Back in 2018, telecom giant AT&T completed its $85 billion acquisition of entertainment conglomerate Time Warner, creating a new entity known as WarnerMedia. WarnerMedia immediately became one of the largest entertainment providers in the world, generating $30 billion in revenue per year and hosting more than 40 million subscribers on streaming service HBO Max.
Now, just three years later, AT&T has apparently decided that WarnerMedia just wasn’t big enough. On Monday, executives at AT&T Inc. and Discovery, Inc. announced a deal that would combine WarnerMedia and Discovery into one entity that will be able to compete with the likes of Disney and Netflix. This new company (71% of which will be owned by AT&T shareholders and 29% of which will be owned by Discovery shareholders) could be valued at as much as $150 billion, which would place the new enterprise just behind Disney in terms of total assets.
This new venture will receive...
Now, just three years later, AT&T has apparently decided that WarnerMedia just wasn’t big enough. On Monday, executives at AT&T Inc. and Discovery, Inc. announced a deal that would combine WarnerMedia and Discovery into one entity that will be able to compete with the likes of Disney and Netflix. This new company (71% of which will be owned by AT&T shareholders and 29% of which will be owned by Discovery shareholders) could be valued at as much as $150 billion, which would place the new enterprise just behind Disney in terms of total assets.
This new venture will receive...
- 5/17/2021
- by Alec Bojalad
- Den of Geek
One of the many question in the wake of Monday’s blockbuster announcement of WarnerMedia’s merger with Discovery is the status of longtime CNN head Jeff Zucker, who had announced in January that he planned to step down when his contract expires at the end of 2021.
But Zucker “would probably” scuttle that departure plan now that the merger is moving forward, the Los Angeles Times reported, citing an unnamed close associate of Zucker’s. Axios and the Los Angeles Times both noted that Zucker has long been friendly with Discovery CEO David Zaslav, who is set to take over the new company when the merger is completed in mid-2022. The two first met as rising executives at NBC in the 1990s and 2000s.
Zucker had also bristled at the cost-cutting that had been imposed on the news network after AT&T completed its acquisition of WarnerMedia three years ago, insiders told the L.
But Zucker “would probably” scuttle that departure plan now that the merger is moving forward, the Los Angeles Times reported, citing an unnamed close associate of Zucker’s. Axios and the Los Angeles Times both noted that Zucker has long been friendly with Discovery CEO David Zaslav, who is set to take over the new company when the merger is completed in mid-2022. The two first met as rising executives at NBC in the 1990s and 2000s.
Zucker had also bristled at the cost-cutting that had been imposed on the news network after AT&T completed its acquisition of WarnerMedia three years ago, insiders told the L.
- 5/17/2021
- by Lindsey Ellefson
- The Wrap
AT&T has announced a $43 billion deal that will spin off WarnerMedia and merge the media powerhouse with Discovery, bringing together the likes of CNN, HBO, Warner Bros., HGTV, OWN Network, and Animal Planet under the same roof. The merger will create a new business, separate from AT&T, which The Financial Times reports could be valued at as much as $150 billion (though CNN notes the new company will also carry $55 billion in debt). Bloomberg reporter Ed Hammond first reported the news.
David Zaslav, who has led Discovery for 14 years, will be in charge of the new business, an official name for which has not yet been given. AT&T shareholders will own 71 percent of the new company, Discovery shareholders 29 percent. As for everyone else, that’s Tbd: Executives from WarnerMedia and Discovery will be in “key leadership roles,” according to a press release.
“We think together, the combination makes...
David Zaslav, who has led Discovery for 14 years, will be in charge of the new business, an official name for which has not yet been given. AT&T shareholders will own 71 percent of the new company, Discovery shareholders 29 percent. As for everyone else, that’s Tbd: Executives from WarnerMedia and Discovery will be in “key leadership roles,” according to a press release.
“We think together, the combination makes...
- 5/17/2021
- by Zack Sharf
- Indiewire
Discovery CEO David Zazlav on Monday committed to the future of CNN once his company completes a merger with AT&T’s WarnerMedia.
“Not only are we going to keep it,” Zaslav said in a Monday press conference with AT&T CEO John Stankey, but the new company will “lean into news.” He noted that his company already has a substantial news presence in Europe, which will be combined with CNN to create “a world leader in news.”
Earlier in the call, CNN’s chief media correspondent Brian Stelter asked about the fate of his employer, too, and was told by Zaslav — who will helm the new operation once the merger is completed in mid-2022 — that CNN’s independence will be honored and the brand will be given “the greatest editorial integrity.”
Zaslav also added that the new mega-company is committed to expanding CNN’s streaming offerings since streaming is at...
“Not only are we going to keep it,” Zaslav said in a Monday press conference with AT&T CEO John Stankey, but the new company will “lean into news.” He noted that his company already has a substantial news presence in Europe, which will be combined with CNN to create “a world leader in news.”
Earlier in the call, CNN’s chief media correspondent Brian Stelter asked about the fate of his employer, too, and was told by Zaslav — who will helm the new operation once the merger is completed in mid-2022 — that CNN’s independence will be honored and the brand will be given “the greatest editorial integrity.”
Zaslav also added that the new mega-company is committed to expanding CNN’s streaming offerings since streaming is at...
- 5/17/2021
- by Lindsey Ellefson
- The Wrap
AT&T and Discovery are discussing the possibility of combining media assets to create an entertainment and lifestyle content giant with a global footprint to better compete in the streaming marketplace.
Bloomberg News first reported Sunday that talks are ongoing and a deal could be reached as early as this week. The deal would bring together such brands as HBO, HBO Max and CNN with lifestyle powerhouses Food Network and HGTV.
Sources close to the situation suggested that the two sides will look create a joint venture that would house AT&T’s media and entertainment assets along with Discovery’s suite of lifestyle channels. In that scenario, it’s believed that Discovery CEO David Zaslav and WarnerMedia CEO Jason Kilar would both maintain leadership roles, although those details remain sketchy.
There was immediate speculation that any deal between AT&T and Discovery would prompt other bidders to join the fray.
Bloomberg News first reported Sunday that talks are ongoing and a deal could be reached as early as this week. The deal would bring together such brands as HBO, HBO Max and CNN with lifestyle powerhouses Food Network and HGTV.
Sources close to the situation suggested that the two sides will look create a joint venture that would house AT&T’s media and entertainment assets along with Discovery’s suite of lifestyle channels. In that scenario, it’s believed that Discovery CEO David Zaslav and WarnerMedia CEO Jason Kilar would both maintain leadership roles, although those details remain sketchy.
There was immediate speculation that any deal between AT&T and Discovery would prompt other bidders to join the fray.
- 5/16/2021
- by Cynthia Littleton and Brian Steinberg
- Variety Film + TV
Influential proxy advisor Institutional Shareholder Services (Iss) is recommending stockholders vote against AT&T’s executive compensation plan at its April 20 annual meeting after the company granted WarnerMedia CEO Jason Kilar a stock award valued at $48 million.
Kilar’s base salary, at $2.5 million, was above that of current and former AT&T CEOs John Stankey and Randall Stephenson and the median of entertainment chief executives, which tend to be a highly compensated group, Iss said.
The former founding CEO of Hulu landed at WarnerMedia May 1 just before the launch later that month of HBO Max. His 2020 pay package totaled $52 million.
Public companies like AT&T list the compensation of their top five highest-paid executives in so-called proxy statements filed with the SEC. The proxy lists all proposals to be presented for shareholder vote at the annual meeting, including approving prior-year executive compensation. Iss issues detailed reports breaking down each proposal, recommends...
Kilar’s base salary, at $2.5 million, was above that of current and former AT&T CEOs John Stankey and Randall Stephenson and the median of entertainment chief executives, which tend to be a highly compensated group, Iss said.
The former founding CEO of Hulu landed at WarnerMedia May 1 just before the launch later that month of HBO Max. His 2020 pay package totaled $52 million.
Public companies like AT&T list the compensation of their top five highest-paid executives in so-called proxy statements filed with the SEC. The proxy lists all proposals to be presented for shareholder vote at the annual meeting, including approving prior-year executive compensation. Iss issues detailed reports breaking down each proposal, recommends...
- 4/9/2021
- by Jill Goldsmith
- Deadline Film + TV
AT&T has refined its pitch to Wall Street on the rationale for owning WarnerMedia.
As it approaches the third anniversary of completing its $85.4 billion acquisition of Time Warner, the telco giant held an Investor Day presentation Friday morning that was long on talk of “software-based entertainment” and global subscriber predictions for the next four years. But there was little discussion of the linear Turner networks or the pathbreaking advanced advertising deals that were once billed as driving growth for TNT, TBS, CNN et al as well as AT&T’s DirecTV.
Today, AT&T is in the process of unloading a 30% stake in DirecTV to help get the satcaster’s slumping performance off of AT&T’s books. There was not a word about Xander, the targeted advertising sales effort that AT&T assembled after the Time Warner acquisition agreement was struck in 2016.
Instead, AT&T CEO John Stankey repeated...
As it approaches the third anniversary of completing its $85.4 billion acquisition of Time Warner, the telco giant held an Investor Day presentation Friday morning that was long on talk of “software-based entertainment” and global subscriber predictions for the next four years. But there was little discussion of the linear Turner networks or the pathbreaking advanced advertising deals that were once billed as driving growth for TNT, TBS, CNN et al as well as AT&T’s DirecTV.
Today, AT&T is in the process of unloading a 30% stake in DirecTV to help get the satcaster’s slumping performance off of AT&T’s books. There was not a word about Xander, the targeted advertising sales effort that AT&T assembled after the Time Warner acquisition agreement was struck in 2016.
Instead, AT&T CEO John Stankey repeated...
- 3/12/2021
- by Cynthia Littleton
- Variety Film + TV
Jason Kilar, the CEO of WarnerMedia, earned a total of more than $52 million in 2020 according to an SEC proxy filing Thursday by parent AT&T.
Kilar’s package was swelled by a large stock award worth over $49.2 million. His base salary was $1.6 million.
Kilar joined WarnerMedia in 2020 as the company launched HBO Max and began a pivot to streaming and massive reorganization of its entertainment business. In discussing his compensation, the proxy noted “that the Board sought the best talent available to lead WarnerMedia, and Mr. Kilar, with his experience at Hulu and Amazon, among other companies, brings a broad range of expertise in managing a media business.”
“As CEO of WarnerMedia, Mr. Kilar was charged with overseeing a reorganization to realize synergies and help WarnerMedia operate more nimbly in the current media landscape. He also led the successful launch of AT&T’s HBO Max streaming platform, a key element...
Kilar’s package was swelled by a large stock award worth over $49.2 million. His base salary was $1.6 million.
Kilar joined WarnerMedia in 2020 as the company launched HBO Max and began a pivot to streaming and massive reorganization of its entertainment business. In discussing his compensation, the proxy noted “that the Board sought the best talent available to lead WarnerMedia, and Mr. Kilar, with his experience at Hulu and Amazon, among other companies, brings a broad range of expertise in managing a media business.”
“As CEO of WarnerMedia, Mr. Kilar was charged with overseeing a reorganization to realize synergies and help WarnerMedia operate more nimbly in the current media landscape. He also led the successful launch of AT&T’s HBO Max streaming platform, a key element...
- 3/11/2021
- by Jill Goldsmith
- Deadline Film + TV
In his first year as WarnerMedia CEO Jason Kilar earned $52.1 million, according to an SEC filing, though there is a pretty big asterisk on that value.
Kilar took home more than $49 million in stock swards, on top of his base pay of $1.67 million. However, that $49 million will vest over the next four years. Kilar took over as WarnerMedia CEO on May 1 and John Stankey assumed the top job at AT&T in July. Going forward, Kilar’s yearly compensation package will be around $17 million.
Stankey’s base pay was just over $2 million with his stock awards totaling $13.4 million. In total, he took home just over $21 million. That was down slightly from the $22.5 million he earned in 2019, his last full year as WarnerMedia CEO.
Kilar’s first year atop WarnerMedia has been filled with numerous changes, and the launch of one pretty major streaming service in HBO Max. Kilar reorganized the business,...
Kilar took home more than $49 million in stock swards, on top of his base pay of $1.67 million. However, that $49 million will vest over the next four years. Kilar took over as WarnerMedia CEO on May 1 and John Stankey assumed the top job at AT&T in July. Going forward, Kilar’s yearly compensation package will be around $17 million.
Stankey’s base pay was just over $2 million with his stock awards totaling $13.4 million. In total, he took home just over $21 million. That was down slightly from the $22.5 million he earned in 2019, his last full year as WarnerMedia CEO.
Kilar’s first year atop WarnerMedia has been filled with numerous changes, and the launch of one pretty major streaming service in HBO Max. Kilar reorganized the business,...
- 3/11/2021
- by Tim Baysinger
- The Wrap
Jason Kilar, who has served as CEO of WarnerMedia since May 2020, has a compensation package worth about $17 million per year in cash and stock, according to a regulatory filing.
Kilar’s base annual salary is $2.5 million, plus $2.5 million in short-term target bonus and $12 million in vested stock grants per year, according to AT&T’s proxy fling Thursday. The exec’s total realized compensation in 2020 was $2.92 million.
When Kilar was hired, AT&T granted him restricted stock valued at $48 million, which will vest over a four-year period (from 2021-24). The telco listed his total comp for 2020 at $52.17 million, even though he can’t get his hands on most of that until his stock units vest.
The company praised itself for Kilar’s hiring. “The Board sought the best talent available to lead WarnerMedia, and Mr. Kilar, with his experience at Hulu and Amazon, among other companies, brings a broad range of...
Kilar’s base annual salary is $2.5 million, plus $2.5 million in short-term target bonus and $12 million in vested stock grants per year, according to AT&T’s proxy fling Thursday. The exec’s total realized compensation in 2020 was $2.92 million.
When Kilar was hired, AT&T granted him restricted stock valued at $48 million, which will vest over a four-year period (from 2021-24). The telco listed his total comp for 2020 at $52.17 million, even though he can’t get his hands on most of that until his stock units vest.
The company praised itself for Kilar’s hiring. “The Board sought the best talent available to lead WarnerMedia, and Mr. Kilar, with his experience at Hulu and Amazon, among other companies, brings a broad range of...
- 3/11/2021
- by Todd Spangler
- Variety Film + TV
Randall Stephenson is retiring from AT&T after 38 years, but not without one last paycheck from the telco company.
In an SEC filing on Monday, AT&T revealed that Stephenson, who had been serving as executive chairman of the company after handing the CEO reigns over to John Stankey last summer, has formally stepped down from that post. Though he is officially no longer part of AT&T’s board, he will be paid $1 million over the next year for his consulting services.
Not a bad deal if you can get it. Even better, Stephenson is not allowed to work more than 20% of the hours he worked as a full-time employee.
It was always the plan for Stephenson to formally retire in January. His CEO tenure began in 2007, leading the company through its acquisitions of DirecTV and what was then known as Time Warner.
In November, AT&T tapped William Kennard...
In an SEC filing on Monday, AT&T revealed that Stephenson, who had been serving as executive chairman of the company after handing the CEO reigns over to John Stankey last summer, has formally stepped down from that post. Though he is officially no longer part of AT&T’s board, he will be paid $1 million over the next year for his consulting services.
Not a bad deal if you can get it. Even better, Stephenson is not allowed to work more than 20% of the hours he worked as a full-time employee.
It was always the plan for Stephenson to formally retire in January. His CEO tenure began in 2007, leading the company through its acquisitions of DirecTV and what was then known as Time Warner.
In November, AT&T tapped William Kennard...
- 1/25/2021
- by Tim Baysinger
- The Wrap
Randall Stephenson, AT&T’s former chairman and CEO, has made good on his retirement from the telco giant, but with a one-year consultancy agreement in hand as he leaves the company’s boardroom.
On Monday, AT&T in an SEC filing said Stephenson on Jan. 19 stepped down as executive chairman of the board of directors at AT&T, a move that was previously flagged to investors. But he retires after 38 years with the company, and after John Stankey took the top job as president and CEO at AT&T, with a one year consultancy agreement in hand.
In ...
On Monday, AT&T in an SEC filing said Stephenson on Jan. 19 stepped down as executive chairman of the board of directors at AT&T, a move that was previously flagged to investors. But he retires after 38 years with the company, and after John Stankey took the top job as president and CEO at AT&T, with a one year consultancy agreement in hand.
In ...
- 1/25/2021
- The Hollywood Reporter - Film + TV
Randall Stephenson, AT&T’s former chairman and CEO, has made good on his retirement from the telco giant, but with a one-year consultancy agreement in hand as he leaves the company’s boardroom.
On Monday, AT&T in an SEC filing said Stephenson on Jan. 19 stepped down as executive chairman of the board of directors at AT&T, a move that was previously flagged to investors. But he retires after 38 years with the company, and after John Stankey took the top job as president and CEO at AT&T, with a one year consultancy agreement in hand.
In ...
On Monday, AT&T in an SEC filing said Stephenson on Jan. 19 stepped down as executive chairman of the board of directors at AT&T, a move that was previously flagged to investors. But he retires after 38 years with the company, and after John Stankey took the top job as president and CEO at AT&T, with a one year consultancy agreement in hand.
In ...
- 1/25/2021
- The Hollywood Reporter - Movie News
Updated: AT&T has thrown in the towel in trying to compete for cord-cutters looking for a cheap TV bundle — an unsurprising move as the telco tries to shore up its struggling pay-tv business.
In an update on its website this week, the telco said it is no longer selling AT&T TV Now to new customers. “AT&T TV Now has merged with AT&T TV to bring you the best live and on-demand experience!” a message on the telco’s site says. The AT&T TV broadband-delivered product, introduced last spring, is priced and packaged more like traditional cable and satellite TV and is designed as a replacement for the steadily declining DirecTV satellite service.
The phasing out of AT&T TV Now comes after years of shifting strategies and a confusing mélange of marketing messaging. AT&T first launched the skinny-bundle service in December 2016, originally called DirecTV Now, stuffed...
In an update on its website this week, the telco said it is no longer selling AT&T TV Now to new customers. “AT&T TV Now has merged with AT&T TV to bring you the best live and on-demand experience!” a message on the telco’s site says. The AT&T TV broadband-delivered product, introduced last spring, is priced and packaged more like traditional cable and satellite TV and is designed as a replacement for the steadily declining DirecTV satellite service.
The phasing out of AT&T TV Now comes after years of shifting strategies and a confusing mélange of marketing messaging. AT&T first launched the skinny-bundle service in December 2016, originally called DirecTV Now, stuffed...
- 1/12/2021
- by Todd Spangler
- Variety Film + TV
WarnerMedia Wednesday named Jennifer Biry chief financial officer, replacing Pascal Desroches, who it was announced earlier this month will become CFO of parent AT&T.
Biry, finance chief for the AT&T Communications group mobility and entertainment businesses, will lead all financial operations for WarnerMedia reporting directly to CEO Jason Kilar.
Desroches, a longtime Time Warner and Turner executive is moving into the role held by John Stephens, who announced Nov. 17 his retirement as CFO of the telecom giant. Desroches will report to John Stankey.
“While Jennifer’s extensive experience in successfully managing the financial functions of large, complex businesses is certainly valuable, what is even more relevant in my opinion is her high judgment and razor-sharp insight into WarnerMedia’s biggest challenges and opportunities,” Kilar said in a statement.
“Jennifer fully understands and appreciates all that we are doing — and need to do — as a team and a business.”
Biry...
Biry, finance chief for the AT&T Communications group mobility and entertainment businesses, will lead all financial operations for WarnerMedia reporting directly to CEO Jason Kilar.
Desroches, a longtime Time Warner and Turner executive is moving into the role held by John Stephens, who announced Nov. 17 his retirement as CFO of the telecom giant. Desroches will report to John Stankey.
“While Jennifer’s extensive experience in successfully managing the financial functions of large, complex businesses is certainly valuable, what is even more relevant in my opinion is her high judgment and razor-sharp insight into WarnerMedia’s biggest challenges and opportunities,” Kilar said in a statement.
“Jennifer fully understands and appreciates all that we are doing — and need to do — as a team and a business.”
Biry...
- 12/2/2020
- by Jill Goldsmith
- Deadline Film + TV
AT&T’s efforts to unload DirecTV make the latter’s eventual combination with Dish Network all the more “inevitable,” Dish chairman Charlie Ergen said Friday.
The pay-tv rabble-rouser has used that word before to describe the longtime satellite rivals, and he stipulated during a call with Wall Street analysts after Dish’s third-quarter results that he had no new inside information to impart. But he said private-equity firms controlling DirecTV — the most likely near-term scenario as bids are evaluated by AT&T — means that “whether it’s a year from now or 10 years from now, I believe it’s inevitable those companies come together.”
AT&T has not commented publicly on the process of retooling its pay-tv operations, which lost more than 600,000 subscribers in the third quarter. A spokesperson declined to comment on the status of the DirecTV discussions when contacted by Deadline. CNBC recently reported that one scenario being...
The pay-tv rabble-rouser has used that word before to describe the longtime satellite rivals, and he stipulated during a call with Wall Street analysts after Dish’s third-quarter results that he had no new inside information to impart. But he said private-equity firms controlling DirecTV — the most likely near-term scenario as bids are evaluated by AT&T — means that “whether it’s a year from now or 10 years from now, I believe it’s inevitable those companies come together.”
AT&T has not commented publicly on the process of retooling its pay-tv operations, which lost more than 600,000 subscribers in the third quarter. A spokesperson declined to comment on the status of the DirecTV discussions when contacted by Deadline. CNBC recently reported that one scenario being...
- 11/6/2020
- by Dade Hayes
- Deadline Film + TV
Former FCC chief William Kennard has been named chairman of AT&T’s board of directors.
Kennard has been a member of AT&T’s board of directors since 2014. The telco giant vowed to separate the chairman and CEO posts following the retirement in January of Randall Stephenson, who previously was chairman-ceo.
Last July, Stephenson handed the CEO reins to his longtime lieutenant John Stankey. Stephenson is scheduled to step down from his executive chairman role early next year. AT&T’s portfolio was transformed during Stephenson’s tenure by the acquisitions of DirecTV and Time Warner. Corporate governance watchdogs have pushed hard for companies to separate the chairman and CEO roles in an effort to foster more independent oversight from boards.
“Bill’s deep knowledge of communications, media and technology, proven leadership and broad experience across capital markets and government uniquely positions him to serve as AT&T’s new chairman,...
Kennard has been a member of AT&T’s board of directors since 2014. The telco giant vowed to separate the chairman and CEO posts following the retirement in January of Randall Stephenson, who previously was chairman-ceo.
Last July, Stephenson handed the CEO reins to his longtime lieutenant John Stankey. Stephenson is scheduled to step down from his executive chairman role early next year. AT&T’s portfolio was transformed during Stephenson’s tenure by the acquisitions of DirecTV and Time Warner. Corporate governance watchdogs have pushed hard for companies to separate the chairman and CEO roles in an effort to foster more independent oversight from boards.
“Bill’s deep knowledge of communications, media and technology, proven leadership and broad experience across capital markets and government uniquely positions him to serve as AT&T’s new chairman,...
- 11/6/2020
- by Cynthia Littleton
- Variety Film + TV
WarnerMedia parent AT&T today named former FCC chairman William Kennard chairman of the telecom giant’s board effective in January when current chair (and former CEO) Randall Stephenson retires.
AT&T announced its plan to elect an independent chairman when Stephenson, who held both positions since 2007, stepped down in April. COO John Stankey stepped up as CEO in July. Splitting the role of chairman and CEO is regarded as good corporate governance.
Kennard was general counsel to the U.S. Federal Communications Commission from 1993 to 1997. He was appointed chairman in 1997, holding the position until 2001. From 2009 to 2013, he served as the U.S. Ambassador to the European Union.
He’s been a director at AT&T since 2014 and currently serves on the board’s corporate governance and nominating committee and the public policy and corporate reputation committee.
Kennard has also held positions at Carlyle Group, a global asset management firm, leading...
AT&T announced its plan to elect an independent chairman when Stephenson, who held both positions since 2007, stepped down in April. COO John Stankey stepped up as CEO in July. Splitting the role of chairman and CEO is regarded as good corporate governance.
Kennard was general counsel to the U.S. Federal Communications Commission from 1993 to 1997. He was appointed chairman in 1997, holding the position until 2001. From 2009 to 2013, he served as the U.S. Ambassador to the European Union.
He’s been a director at AT&T since 2014 and currently serves on the board’s corporate governance and nominating committee and the public policy and corporate reputation committee.
Kennard has also held positions at Carlyle Group, a global asset management firm, leading...
- 11/6/2020
- by Jill Goldsmith
- Deadline Film + TV
William Kennard on Friday was named chairman of AT&T’s board of directors.
Kennard, who replaces the outgoing Randall Stephenson, served as FCC chairman from 1997 to 2001 under President Bill Clinton and as ambassador to the European Union from 2009 to 2013 under Barack Obama. He also has held positions with The Carlyle Group. Kennard joined AT&T’s board of directors in 2014.
“Bill’s deep knowledge of communications, media and technology, proven leadership and broad experience across capital markets and government uniquely positions him to serve as AT&T’s new chairman,” Stephenson said in a statement. “He is an outstanding choice to lead our board of talented directors who possess diverse expertise and experience.”
Stephenson stepped down as CEO of AT&T over the summer, with John Stankey replacing him. Kennard is set to take over as chairman of the board in January when Stephenson formally retires. He had served as...
Kennard, who replaces the outgoing Randall Stephenson, served as FCC chairman from 1997 to 2001 under President Bill Clinton and as ambassador to the European Union from 2009 to 2013 under Barack Obama. He also has held positions with The Carlyle Group. Kennard joined AT&T’s board of directors in 2014.
“Bill’s deep knowledge of communications, media and technology, proven leadership and broad experience across capital markets and government uniquely positions him to serve as AT&T’s new chairman,” Stephenson said in a statement. “He is an outstanding choice to lead our board of talented directors who possess diverse expertise and experience.”
Stephenson stepped down as CEO of AT&T over the summer, with John Stankey replacing him. Kennard is set to take over as chairman of the board in January when Stephenson formally retires. He had served as...
- 11/6/2020
- by Tim Baysinger
- The Wrap
Former FCC chairman and U.S. ambassador to the European Union William Kennard has been named chairman of the board of directors for telecom giant and WarnerMedia parent company AT&T. Kennard had been an AT&T director since 2014.
Kennard succeeds Randall Stephenson, who has been serving as AT&T’s chairman since stepping aside as CEO earlier this year, and handing control of the company to John Stankey. Stephenson will officially retire from the company in January.
Kennard was general counsel for the FCC from 1993-1997, and President Clinton named him chairman in1997, a role he served in ...
Kennard succeeds Randall Stephenson, who has been serving as AT&T’s chairman since stepping aside as CEO earlier this year, and handing control of the company to John Stankey. Stephenson will officially retire from the company in January.
Kennard was general counsel for the FCC from 1993-1997, and President Clinton named him chairman in1997, a role he served in ...
- 11/6/2020
- The Hollywood Reporter - Film + TV
Former FCC chairman and U.S. ambassador to the European Union William Kennard has been named chairman of the board of directors for telecom giant and WarnerMedia parent company AT&T. Kennard had been an AT&T director since 2014.
Kennard succeeds Randall Stephenson, who has been serving as AT&T’s chairman since stepping aside as CEO earlier this year, and handing control of the company to John Stankey. Stephenson will officially retire from the company in January.
Kennard was general counsel for the FCC from 1993-1997, and President Clinton named him chairman in1997, a role he served in ...
Kennard succeeds Randall Stephenson, who has been serving as AT&T’s chairman since stepping aside as CEO earlier this year, and handing control of the company to John Stankey. Stephenson will officially retire from the company in January.
Kennard was general counsel for the FCC from 1993-1997, and President Clinton named him chairman in1997, a role he served in ...
- 11/6/2020
- The Hollywood Reporter - Movie News
AT&T CEO John Stankey, who previously served as the CEO of WarnerMedia, will step down from the board of directors of shipping and logistics giant Ups.
Stankey had been a Ups board member since 2014. In a statement Ups said Stankey “is leaving the board to focus on his responsibilities” as CEO of AT&T. The telecom and media executive was named CEO of AT&T in July, succeeding Randall Stephenson.
“[Stankey’s] extensive experience in strategy, customer solutions, technology and operations were instrumental as Ups executed global strategies for growth, innovation and exceptional customer service,” said ...
Stankey had been a Ups board member since 2014. In a statement Ups said Stankey “is leaving the board to focus on his responsibilities” as CEO of AT&T. The telecom and media executive was named CEO of AT&T in July, succeeding Randall Stephenson.
“[Stankey’s] extensive experience in strategy, customer solutions, technology and operations were instrumental as Ups executed global strategies for growth, innovation and exceptional customer service,” said ...
- 11/3/2020
- The Hollywood Reporter - Film + TV
AT&T CEO John Stankey, who previously served as the CEO of WarnerMedia, will step down from the board of directors of shipping and logistics giant Ups.
Stankey had been a Ups board member since 2014. In a statement Ups said Stankey “is leaving the board to focus on his responsibilities” as CEO of AT&T. The telecom and media executive was named CEO of AT&T in July, succeeding Randall Stephenson.
“[Stankey’s] extensive experience in strategy, customer solutions, technology and operations were instrumental as Ups executed global strategies for growth, innovation and exceptional customer service,” said ...
Stankey had been a Ups board member since 2014. In a statement Ups said Stankey “is leaving the board to focus on his responsibilities” as CEO of AT&T. The telecom and media executive was named CEO of AT&T in July, succeeding Randall Stephenson.
“[Stankey’s] extensive experience in strategy, customer solutions, technology and operations were instrumental as Ups executed global strategies for growth, innovation and exceptional customer service,” said ...
- 11/3/2020
- The Hollywood Reporter - Movie News
Peter Bart: “Corporate Restructuring” Stirs Mounting Fears In Hollywood As Major Studio Layoffs Loom
With yet another major round of layoffs about to hit Hollywood, I am reminded of Ben Hecht’s explanation of how he made his peace with the town. “The key is to understand how to balance the misery with the money,” he wrote.
Arriving in Hollywood at the zenith of the studio system, Hecht wrote that everyone he met was working, but also complaining. Good-paying jobs were abundant — for grips, extras, even writers. Studio contracts kept the stars bejeweled but not wealthy. The dreaded studio chiefs were autocratic but also not rich by today’s billionaire standards. The Hollywood ecosystem worked in its own self-protective way with everyone doing well but wanting more.
If Hecht were around today, he’d wonder why it isn’t working very well anymore (he managed to become its highest-paid writer). He’d especially be fascinated by the melodrama surrounding AT&T and its Hollywood protectorate,...
Arriving in Hollywood at the zenith of the studio system, Hecht wrote that everyone he met was working, but also complaining. Good-paying jobs were abundant — for grips, extras, even writers. Studio contracts kept the stars bejeweled but not wealthy. The dreaded studio chiefs were autocratic but also not rich by today’s billionaire standards. The Hollywood ecosystem worked in its own self-protective way with everyone doing well but wanting more.
If Hecht were around today, he’d wonder why it isn’t working very well anymore (he managed to become its highest-paid writer). He’d especially be fascinated by the melodrama surrounding AT&T and its Hollywood protectorate,...
- 10/16/2020
- by Peter Bart
- Deadline Film + TV
AT&T, which entered the second half of 2020 with $152 billion in net debt, is said to be shopping its Xandr advertising unit.
The sale talks were first reported Tuesday by the Wall Street Journal. The company declined to comment when reached by Deadline.
The detachment of Xandr from the company would mark a dramatic reversal of the company’s strategy and undercut a key element related to the $81 billion acquisition of Time Warner in 2018. Reports in recent days have also identified satellite TV operator DirecTV and anime outfit Crunchyroll as other assets marked for potential sale by AT&T.
Advertising is expected to play an important role in the future of HBO Max, the general entertainment streaming service launched by AT&T’s WarnerMedia in May. The company plans to introduce an ad-supported tier of the service in 2021, a key part of its effort to hit subscriber targets of 50 million U.
The sale talks were first reported Tuesday by the Wall Street Journal. The company declined to comment when reached by Deadline.
The detachment of Xandr from the company would mark a dramatic reversal of the company’s strategy and undercut a key element related to the $81 billion acquisition of Time Warner in 2018. Reports in recent days have also identified satellite TV operator DirecTV and anime outfit Crunchyroll as other assets marked for potential sale by AT&T.
Advertising is expected to play an important role in the future of HBO Max, the general entertainment streaming service launched by AT&T’s WarnerMedia in May. The company plans to introduce an ad-supported tier of the service in 2021, a key part of its effort to hit subscriber targets of 50 million U.
- 9/1/2020
- by Dade Hayes
- Deadline Film + TV
Debt-laden AT&T is considering a possible sale of the digital-advertising assets it assembled as it prepared to acquire the former Time Warner for around $85 billion in 2018, according to a report in The Wall Street Journal, a sign of diminishing ambitions in that particular arena.
AT&T in 2017 launched a separate unit devoted to assembling data, analytics and advertising opportunities, mainly using consumer information from its massive DirecTV satellite-broadcasting unit. It also purchased AppNexus, which operates a digital-ad marketplace, for a price said to be around $1.6 billion in 2018. The resulting unit, Xandr, was originally billed as a place where advertisers and even media companies could join to delineate specific audiences, and the company even struck deals with AMC Networks and Walt Disney. The former CEO of the unit, eventually named Xandr, reported to then AT&T CEO Randall Stephenson
But something happened as AT&T began to shuffle its corporate leadership.
AT&T in 2017 launched a separate unit devoted to assembling data, analytics and advertising opportunities, mainly using consumer information from its massive DirecTV satellite-broadcasting unit. It also purchased AppNexus, which operates a digital-ad marketplace, for a price said to be around $1.6 billion in 2018. The resulting unit, Xandr, was originally billed as a place where advertisers and even media companies could join to delineate specific audiences, and the company even struck deals with AMC Networks and Walt Disney. The former CEO of the unit, eventually named Xandr, reported to then AT&T CEO Randall Stephenson
But something happened as AT&T began to shuffle its corporate leadership.
- 9/1/2020
- by Brian Steinberg
- Variety Film + TV
Kirk McDonald. a top executive at WarnerMedia’s Xandr ad-tech unit, was named the new CEO of North American operations of Wpp’s large GroupM media-buying firm, marking the latest in a string of top advertising leaders to leave the AT&T media operation.
GroupM is one of the largest and most influential media-buying operations in the industry, managing about $17.6 billion in media billings across the U.S. and Canada. McDonald will take over the role on September 15. The Wall Street Journal previously reported on McDonald’s hire.
“We were looking for someone who had both the right experience in media and the capability to lead the region through transformational change. Not only did Kirk demonstrate he has both, but his vision for making advertising work better for people aligned perfectly with ours,” said Christian Juhl, GroupM’s global CEO, in a prepared statement. “His outstanding reputation in the industry put...
GroupM is one of the largest and most influential media-buying operations in the industry, managing about $17.6 billion in media billings across the U.S. and Canada. McDonald will take over the role on September 15. The Wall Street Journal previously reported on McDonald’s hire.
“We were looking for someone who had both the right experience in media and the capability to lead the region through transformational change. Not only did Kirk demonstrate he has both, but his vision for making advertising work better for people aligned perfectly with ours,” said Christian Juhl, GroupM’s global CEO, in a prepared statement. “His outstanding reputation in the industry put...
- 8/18/2020
- by Brian Steinberg
- Variety Film + TV
Warner Bros. is adjusting its movie production and distribution plans in light of the prolonged shutdown of theaters driven by the coronavirus pandemic, AT&T CEO John Stankey told investors Thursday.
Stankey emphasized that the studio still “believes in the theatrical experience” but said it is inevitable that some titles planned for a traditional theatrical will have to shift to streaming platforms including WarnerMedia’s newly launched HBO Max.
“There’s no question the longer this goes on there’s going to be some content on the margin that we look at and say that it may be better served to be distributed in a different construct,” Stankey said, speaking on AT&T’s second quarter earnings call. He was quick to add that big-budget event movies like Christopher Nolan’s “Tenet” and the upcoming “Wonder Woman” sequel “Wonder Woman 1984” would still be destined for the big screen.
On Monday,...
Stankey emphasized that the studio still “believes in the theatrical experience” but said it is inevitable that some titles planned for a traditional theatrical will have to shift to streaming platforms including WarnerMedia’s newly launched HBO Max.
“There’s no question the longer this goes on there’s going to be some content on the margin that we look at and say that it may be better served to be distributed in a different construct,” Stankey said, speaking on AT&T’s second quarter earnings call. He was quick to add that big-budget event movies like Christopher Nolan’s “Tenet” and the upcoming “Wonder Woman” sequel “Wonder Woman 1984” would still be destined for the big screen.
On Monday,...
- 7/23/2020
- by Cynthia Littleton
- Variety Film + TV
AT&T on Thursday touted the “successful” launch of HBO Max — with the new service helping to boost overall HBO and HBO Max customers by a net 1.7 million over the first six months of 2020.
As of June 30, 2020, AT&T’s WarnerMedia reported 36.3 million total U.S. subscribers to HBO Max and HBO, up from 34.6 million at Dec. 31, 2019. That’s an increase of 5% over that time period. However, traditional HBO lost 2.1 million subscribers during the first quarter.
In disclosing AT&T’s second-quarter earnings, CEO John Stankey said there were 3 million retail subscribers for HBO Max in the quarter since its May 27 launch — and 4.1 million total activations of the HBO Max app across the existing HBO subscriber base. That means the bulk of HBO’s existing subscribers have yet to access HBO Max content even though it is free to those who already pay for HBO.
The numbers revealed Thursday underscore that...
As of June 30, 2020, AT&T’s WarnerMedia reported 36.3 million total U.S. subscribers to HBO Max and HBO, up from 34.6 million at Dec. 31, 2019. That’s an increase of 5% over that time period. However, traditional HBO lost 2.1 million subscribers during the first quarter.
In disclosing AT&T’s second-quarter earnings, CEO John Stankey said there were 3 million retail subscribers for HBO Max in the quarter since its May 27 launch — and 4.1 million total activations of the HBO Max app across the existing HBO subscriber base. That means the bulk of HBO’s existing subscribers have yet to access HBO Max content even though it is free to those who already pay for HBO.
The numbers revealed Thursday underscore that...
- 7/23/2020
- by Todd Spangler and Cynthia Littleton
- Variety Film + TV
With earnings season well under way, AT&T Thursday kicks off a spate of financial reports by media and entertainment companies that will give investors the first close-up look at a quarter dominated by Covid-19.
The April-to-June period is likely to see a startling amount of red ink, especially for any players with exposure to theatrical movie releasing, live sports and theme parks. Companies focused on local TV and digital advertising have already been warning that their quarterly ad revenue could plunge by more than 50% in the period.
AT&T’s WarnerMedia division certainly has sensitivity, with Warner Bros waylaid by theater closures and production halts and networks like TNT and TBS deprived of top draws like the NBA. But investors will also be listening for reports of progress and plans on repaying debt — the company has...
The April-to-June period is likely to see a startling amount of red ink, especially for any players with exposure to theatrical movie releasing, live sports and theme parks. Companies focused on local TV and digital advertising have already been warning that their quarterly ad revenue could plunge by more than 50% in the period.
AT&T’s WarnerMedia division certainly has sensitivity, with Warner Bros waylaid by theater closures and production halts and networks like TNT and TBS deprived of top draws like the NBA. But investors will also be listening for reports of progress and plans on repaying debt — the company has...
- 7/23/2020
- by Jill Goldsmith and Dade Hayes
- Deadline Film + TV
His credentials seemed impeccable. He was 60, a Yale graduate, a former studio chief, a gifted dealmaker and now a newly named company president. But there were a few clouds: He was also a convicted embezzler, a compulsive gambler and his Yale degree was bogus.
This was 1981 and David Begelman, the new boss of MGM, was in many ways representative of the executives who were running Hollywood in that period – men who compulsively operated on the margin.
The cast of characters of that generation would not have been comfortable in the same room with the corporate soldiers who are presently taking their seats at the CEO table – Jason Kilar (WarnerMedia), Bob Chapek (Disney), Jeff Shell (NBCUniversal), et al. All came armed with Harvard MBAs and have already proved their management skills at various corporate levels: Kiler built Hulu. Chapek ran the world’s biggest theme parks. Shell built a giant global distribution machine.
This was 1981 and David Begelman, the new boss of MGM, was in many ways representative of the executives who were running Hollywood in that period – men who compulsively operated on the margin.
The cast of characters of that generation would not have been comfortable in the same room with the corporate soldiers who are presently taking their seats at the CEO table – Jason Kilar (WarnerMedia), Bob Chapek (Disney), Jeff Shell (NBCUniversal), et al. All came armed with Harvard MBAs and have already proved their management skills at various corporate levels: Kiler built Hulu. Chapek ran the world’s biggest theme parks. Shell built a giant global distribution machine.
- 6/25/2020
- by Peter Bart
- Deadline Film + TV
Warner Bros. Interactive Being Shopped, Titles Include ‘Harry Potter’ And ‘Game Of Thrones’ – Report
AT&T is reportedly discussing a sale of its Warner Bros. Interactive Entertainment gaming division, according to numerous reports. The deal could come in around the $4 billion mark and could have a licensing component that would still generate revenue from the intellectual property.
Reducing debt is the goal of any deal. Warner Bros. Interactive titles are largely tied to Warner-owned intellectual property, including Harry Potter, Game of Thrones and The Lego Movie, but includes the Mortal Kombat and the Scribblenauts series.
Among the rumored suitors are Take-Two Interactive Software, Electronic Arts, and Activision Blizzard.
Spokespeople at AT&T declined to comment. The company will have John Stankey as its new CEO as of July 1, replacing Randall Stephenson. The new CEO enters with a mandate to divest properties and reduce debt.
AT&T acquired Time Warner for $109 billion in a 2018 deal and has about $165 billion in debt.
Reducing debt is the goal of any deal. Warner Bros. Interactive titles are largely tied to Warner-owned intellectual property, including Harry Potter, Game of Thrones and The Lego Movie, but includes the Mortal Kombat and the Scribblenauts series.
Among the rumored suitors are Take-Two Interactive Software, Electronic Arts, and Activision Blizzard.
Spokespeople at AT&T declined to comment. The company will have John Stankey as its new CEO as of July 1, replacing Randall Stephenson. The new CEO enters with a mandate to divest properties and reduce debt.
AT&T acquired Time Warner for $109 billion in a 2018 deal and has about $165 billion in debt.
- 6/13/2020
- by Bruce Haring
- Deadline Film + TV
Three senators have accused AT&T of ignoring net neutrality principles by not counting the use of its new HBO Max streaming service against its customers’ data caps. AT&T data customers who use competing streamers, such as Netflix and Disney+, will have that usage counted against their data caps.
Democratic senators Edward Markey, Richard Blumenthal, and Ron Wyden published a letter to AT&T CEO Randall Stephenson regarding the telecom giant’s decision on Thursday. The move favors AT&T customers who use its own streaming service, which would’ve been illegal under the net neutrality rules that the Ajit Pai-led Federal Communications Commission repealed in 2018.
For example, an AT&T customer with a one gigabyte data plan could stream as much HBO Max as they’d like without it contributing to their data cap. But if that customer were to stream content from a rival streaming service, it...
Democratic senators Edward Markey, Richard Blumenthal, and Ron Wyden published a letter to AT&T CEO Randall Stephenson regarding the telecom giant’s decision on Thursday. The move favors AT&T customers who use its own streaming service, which would’ve been illegal under the net neutrality rules that the Ajit Pai-led Federal Communications Commission repealed in 2018.
For example, an AT&T customer with a one gigabyte data plan could stream as much HBO Max as they’d like without it contributing to their data cap. But if that customer were to stream content from a rival streaming service, it...
- 6/5/2020
- by Tyler Hersko
- Indiewire
As HBO Max prepares for its May 27 debut, incoming AT&T CEO John Stankey sees the streaming platform as the beginning of “natural evolution” for AT&T’s broader content strategy.
Speaking Wednesday morning at the J.P. Morgan Global Technology, Media and Communications conference, Stankey talked up the prospects for HBO Max subscription service debuting at a time when Americans are home-bound because of the coronavirus pandemic. He also reiterated the intention to further expand AT&T and WarnerMedia’s content strategy to incorporate advertising-supported content as well as making that platform available to other content owners in some form of revenue-share agreement.
“Our TV businesses and our Svod businesses start to become one as we get out over the next couple of years,” Stankey said during the half-hour Q&a with J.P. Morgan’s Phil Cusick. “We’re in a very natural place for that to occur.”
The...
Speaking Wednesday morning at the J.P. Morgan Global Technology, Media and Communications conference, Stankey talked up the prospects for HBO Max subscription service debuting at a time when Americans are home-bound because of the coronavirus pandemic. He also reiterated the intention to further expand AT&T and WarnerMedia’s content strategy to incorporate advertising-supported content as well as making that platform available to other content owners in some form of revenue-share agreement.
“Our TV businesses and our Svod businesses start to become one as we get out over the next couple of years,” Stankey said during the half-hour Q&a with J.P. Morgan’s Phil Cusick. “We’re in a very natural place for that to occur.”
The...
- 5/13/2020
- by Cynthia Littleton
- Variety Film + TV
Xandr, the advertising unit of AT&T, is merging with WarnerMedia in order to create what the company calls “a better advertising value proposition for brands, publishers and consumers alike.”
As part of the move, Gerhard Zeiler, WarnerMedia’s chief revenue officer and international president, will oversee all advertising responsibilities across AT&T. Kirk McDonald, Chief Business Officer, Xandr will continue to lead Xandr, reporting directly to Zeiler.
The reorganization follows the abrupt exit in March of former Xandr CEO Brian Lesser. It is also the first major strategic play by John Stankey since he took the reins as AT&T CEO. Stankey’s predecessor, Randall Stephenson, oversaw the acquisition in 2018 of ad-tech firm AppNexus, which was renamed Xandr, a flippant shorthand for Alexander Graham Bell, the telephone and AT&T founder.
The business units are combining less than a month before WarnerMedia launches streaming service HBO Max. It will be an ad-free subscription service initially,...
As part of the move, Gerhard Zeiler, WarnerMedia’s chief revenue officer and international president, will oversee all advertising responsibilities across AT&T. Kirk McDonald, Chief Business Officer, Xandr will continue to lead Xandr, reporting directly to Zeiler.
The reorganization follows the abrupt exit in March of former Xandr CEO Brian Lesser. It is also the first major strategic play by John Stankey since he took the reins as AT&T CEO. Stankey’s predecessor, Randall Stephenson, oversaw the acquisition in 2018 of ad-tech firm AppNexus, which was renamed Xandr, a flippant shorthand for Alexander Graham Bell, the telephone and AT&T founder.
The business units are combining less than a month before WarnerMedia launches streaming service HBO Max. It will be an ad-free subscription service initially,...
- 4/30/2020
- by Dade Hayes
- Deadline Film + TV
AT&T said it would fold its stand-alone Xandr ad-tech unit into WarnerMedia, just weeks after the CEO of Xandr abruptly departed.
Gerhard Zeiler, who was named chief revenue officer of WarnerMedia last year, and oversees advertising, distribution and international operations, will supervise all ad-sales outreach across AT&T going forward, the company said. Kirk McDonald, chief business officer of Xandr, will continue to lead the unit, reporting to Zeiler. The Xandr team will operate separately from WarnerMedia’s ad-sales efforts, but the two units have been working more closely in recent months.
The move represents a reversal of hopes for Xandr, which was formed as a separate business in 2017 just as AT&T was pursuing its $85.4 billion purchase of the media conglomerate previously known as Time Warner. AT&T hired Brian Lesser, a top executive at Wpp’s large GroupM media-buying operation, to build a business aimed at helping advertisers...
Gerhard Zeiler, who was named chief revenue officer of WarnerMedia last year, and oversees advertising, distribution and international operations, will supervise all ad-sales outreach across AT&T going forward, the company said. Kirk McDonald, chief business officer of Xandr, will continue to lead the unit, reporting to Zeiler. The Xandr team will operate separately from WarnerMedia’s ad-sales efforts, but the two units have been working more closely in recent months.
The move represents a reversal of hopes for Xandr, which was formed as a separate business in 2017 just as AT&T was pursuing its $85.4 billion purchase of the media conglomerate previously known as Time Warner. AT&T hired Brian Lesser, a top executive at Wpp’s large GroupM media-buying operation, to build a business aimed at helping advertisers...
- 4/30/2020
- by Brian Steinberg
- Variety Film + TV
AT&T on Thursday said WarnerMedia will take control of its Xandr advertising unit, to be run by WarnerMedia chief revenue officer Gerhard Zeiler.
The move follows Brian Lesser, who launched Xandr in 2017, last month leaving the telco giant.
In addition, Randall Stephenson, AT&T chairman and CEO, last week announced he will retire after 38 years with the company and John Stankey, the current leader of WarnerMedia, will take the top job as president and CEO from July 1.
AT&T has also in the past touted harnessing premium video, technology and data to make advertising more effective ...
The move follows Brian Lesser, who launched Xandr in 2017, last month leaving the telco giant.
In addition, Randall Stephenson, AT&T chairman and CEO, last week announced he will retire after 38 years with the company and John Stankey, the current leader of WarnerMedia, will take the top job as president and CEO from July 1.
AT&T has also in the past touted harnessing premium video, technology and data to make advertising more effective ...
- 4/30/2020
- The Hollywood Reporter - Film + TV
WarnerMedia has firmed up a distribution deal with Apple for distribution of its forthcoming streaming service HBO Max.
The pact is the latest key agreement in the run up to the May 27 launch, following pacts with Charter and YouTube TV. Within AT&T, of course, the company can also take full advantage of platforms like DirecTV, U-verse cable and AT&T TV Now.
More from DeadlineHBO Max Buys Film Pitch 'Catching Out'; 'Beautiful Boy's Nic Sheff Scripting & '13 Reasons Why''s Brian Yorkey Producing With Makeready's Brad WestonSeth Rogen Comedy 'An American Pickle' Jumps From Sony To HBO MaxAT&t CEO Randall Stephenson Retiring, COO John Stankey Promoted To Top Job Starting In July
HBO Max is the last of a handful of major new challengers to Netflix, joining Disney+, Apple TV+, NBCUniversal’s Peacock and well-funded mobile startup Quibi. WarnerMedia has targeted 75 to 90 million global subscribers — 50 million of them in the U.
The pact is the latest key agreement in the run up to the May 27 launch, following pacts with Charter and YouTube TV. Within AT&T, of course, the company can also take full advantage of platforms like DirecTV, U-verse cable and AT&T TV Now.
More from DeadlineHBO Max Buys Film Pitch 'Catching Out'; 'Beautiful Boy's Nic Sheff Scripting & '13 Reasons Why''s Brian Yorkey Producing With Makeready's Brad WestonSeth Rogen Comedy 'An American Pickle' Jumps From Sony To HBO MaxAT&t CEO Randall Stephenson Retiring, COO John Stankey Promoted To Top Job Starting In July
HBO Max is the last of a handful of major new challengers to Netflix, joining Disney+, Apple TV+, NBCUniversal’s Peacock and well-funded mobile startup Quibi. WarnerMedia has targeted 75 to 90 million global subscribers — 50 million of them in the U.
- 4/27/2020
- by Dade Hayes
- Deadline Film + TV
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