AT&T Inc is restructuring its WarnerMedia business, according to a memo sent to employees on Monday and seen by Reuters, as it girds for a streaming video battle with Netflix Inc and Walt Disney Co.
The restructuring comes ahead of an anticipated round of significant layoffs and cost cuts and right after the resignation of two high-profile executives – Richard Plepler, the head of HBO and David Levy, president of Turner Broadcasting.
AT&T, which cleared its last regulatory hurdle last week after winning an appeals court decision challenging its US$85 billion deal to buy Time Warner, aims to reinvest savings into its programming businesses. It will launch an early version of its HBO-led subscription video streaming s…
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