View source for WarnerMedia

{{Short description|Merged American media conglomerate (1990–2022)}}
{{Infobox company
| name = Warner Media, LLC
| logo = [[File:WarnerMedia (2019) logo.svg|frameless|class=skin-invert]]
| logo_caption = Final logo used from 2019 to 2022
| image = Hudson Yards from Hudson Commons (95131p) (30 Hudson Yards).jpg
| image_caption = [[30 Hudson Yards]], WarnerMedia's last headquarters in New York City
| trade_name = WarnerMedia
| former_names = {{Plainlist|
* Time Warner Inc. (1990–1992; 2003–2018)
* Time Warner Entertainment Company, L.P.<br />(1992–2001)
* AOL Time Warner Inc.<br />(2001–2003)
}}
| industry = {{ubl|[[Media conglomerate|Media]]|[[Outline of entertainment|Entertainment]]}}
| predecessors = {{plainlist|
* Warner Communications (1972–1990)
* [[Time Inc.]] (1922–1990)
* [[Turner Broadcasting System]] (1965–2019)
}}
| founded = {{start date and age|1990|01|10}}
| founders = {{ubl|[[Steve Ross (businessman)|Steve Ross]]}} (Warner Communications) <br> {{ubl|[[Henry Luce]] <br> (Time Inc.)}}
| successor = [[Warner Bros. Discovery]]
| defunct = {{end date and age|2022|04|08}}
| fate = Spun-off from AT&T and [[Merger of Discovery, Inc. and WarnerMedia|merged]] with [[Discovery, Inc.]] to form [[Warner Bros. Discovery]]
| hq_location = [[30 Hudson Yards]]
| hq_location_city = [[New York City]]
| hq_location_country = US
| area_served = Worldwide
| key_people = {{Plainlist|
* [[Jason Kilar]] ([[Chief executive officer|CEO]])
* Andy Forssell (head of operations, Direct)
* [[Ann Sarnoff]] ([[chairwoman]] and CEO, Studios and Networks; Chairwoman and CEO, Warner Bros.)
* Michael Bass, [[Amy Entelis]] and [[Ken Jautz]] (CNN interim co-heads)
* [[Gerhard Zeiler]] (CRO; [[chairman]], International)
* Tony Goncalves ([[President (corporate title)|president]], Commercial; CEO, Otter Media)
}}
| brands = {{Flatlist|
* [[Adult Swim]]
* [[AT&T SportsNet]]
* [[Boomerang (TV network)|Boomerang]]
* [[Cartoon Network]]
* [[Cartoonito]]
* [[Cinemax]]
* [[CNN]]
* [[CNN+]]
* [[DC Comics]]
* [[HBO]]
* [[HBO Max]]
* [[HLN (TV network)|HLN]]
* [[Mad (magazine)|Mad]]
* [[TBS (American TV channel)|TBS]]
* [[TNT (American TV network)|TNT]]
* [[TruTV]]
* [[Turner Classic Movies]]
* [[Warner Bros.]]
* [[Warner TV]]
* [[Wizarding World]]
}}
| revenue = {{Increase}} {{USD|35.63 billion|link=no}}
| revenue_year = 2021
| operating_income = {{Decrease}} {{USD|7.24 billion}}
| income_year = 2021
| type = [[Subsidiary]]
| traded_as = {{NYSE was|TWX}} (1990-2018)
| owner = 
| parent = [[AT&T]] (2018−2022)
| divisions = {{Plainlist|
* WarnerMedia Studios & Networks
* WarnerMedia News & Sports
* WarnerMedia Sales & Distribution
* WarnerMedia Direct
* WarnerMedia International
}}
| website = {{URL|https://web.archive.org/web/20200210110705/https://www.warnermedia.com/|warnermedia.com}} (archived)
| footnotes = <ref name="FY2021">{{Cite web |url=https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/quarterly-earnings/2021/q421/ATT_4Q21_Financial_and_Operational_Schedules_and_Non_GAAP_Reconciliations.pdf |title=Financial and Operational Schedules & Non-GAAP Reconciliations |date=January 26, 2022 |website=[[AT&T]] |access-date=April 27, 2022 |archive-url=https://web.archive.org/web/20220313180330/https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/quarterly-earnings/2021/q421/ATT_4Q21_Financial_and_Operational_Schedules_and_Non_GAAP_Reconciliations.pdf |archive-date=March 13, 2022 |url-status=live}}</ref><ref>{{cite news |last=Cohen |first=Roger |title=The Creator of Time Warner, Steven J. Ross, Is Dead at 65 |url=https://www.nytimes.com/1992/12/21/obituaries/the-creator-of-time-warner-steven-j-ross-is-dead-at-65.html |newspaper=The New York Times |date=December 21, 1992 |access-date=April 11, 2018 |archive-date=May 9, 2021 |archive-url=https://web.archive.org/web/20210509131107/https://www.nytimes.com/1992/12/21/obituaries/the-creator-of-time-warner-steven-j-ross-is-dead-at-65.html |url-status=live }}</ref><ref name="xbrlus_1">{{cite web |url=https://ir.timewarner.com/phoenix.zhtml?c=70972&p=quarterlyearnings |title=Time Warner Inc. Reports Fourth-Quarter and Full-Year 2017 Results (10-K) |publisher=Time Warner |date=February 1, 2018 |access-date=February 5, 2018 |archive-date=December 2, 2017 |archive-url=https://web.archive.org/web/20171202002021/http://ir.timewarner.com/phoenix.zhtml?c=70972&p=quarterlyearnings |url-status=dead }}</ref><ref>{{Cite web|url=https://about.att.com/pages/corporate_profile|title=AT&T Corporate Profile|website=about.att.com|access-date=2020-11-03|archive-date=2022-03-14|archive-url=https://web.archive.org/web/20220314093428/https://about.att.com/pages/corporate_profile|url-status=live}}</ref><ref>{{Cite web|url=https://www.warnermediagroup.com/company/business-units|title=Business Units {{!}} WarnerMedia|website=warnermediagroup.com|access-date=April 25, 2019|archive-date=August 11, 2020|archive-url=https://web.archive.org/web/20200811194954/https://www.warnermediagroup.com/company/business-units|url-status=dead}}</ref>
}}

'''Warner Media, LLC''' ([[Trade name|doing business as]] '''WarnerMedia''') was<!-- Changed to "was" following merger closing --> an American [[multinational corporation|multinational]] [[mass media]] and [[show business|entertainment]] [[conglomerate (company)|conglomerate]] owned by [[AT&T]]. It was headquartered at the [[30 Hudson Yards]] complex in [[New York City]].

It was established as '''Time Warner''' on January 10, 1990 and was known by that name for most of its history, following a merger between [[Time Inc.]] and Warner Communications. The company had film, television and [[cable television|cable]] operations. Its assets included WarnerMedia Studios & Networks (which consisted of the entertainment assets of [[Turner Broadcasting System|Turner Broadcasting]], [[HBO]], and [[Cinemax]] as well as [[Warner Bros.]], which itself consisted of the film, animation, television studios, [[Warner Bros. Home Entertainment|the company's home entertainment division]] and Studio Distribution Services, its joint venture with [[Universal Pictures Home Entertainment]], [[DC Comics]], [[New Line Cinema]], and, together with [[CBS Entertainment Group]]{{refn|formerly [[CBS Corporation]]}}, a 50% interest in [[The CW]]); WarnerMedia News & Sports (consisted of the news and sports assets of Turner Broadcasting, including [[CNN]], [[Turner Sports]], and [[AT&T SportsNet]]); [[List of WarnerMedia subsidiaries#WarnerMedia Sales and Distribution|WarnerMedia Sales & Distribution]] (consisted of digital media company [[Otter Media]]); and WarnerMedia Direct (consisted of the [[HBO MAX|HBO Max]] streaming service).
 
Despite [[Corporate spin-off|spinning off]] Time Inc. in 2014, the company retained the Time Warner name until 2018, when the company was renamed WarnerMedia after it was acquired by AT&T.<ref>{{cite news|last=Flint|first=Joe|date=March 11, 2014|title=Time Inc. spinoff probably won't mean name change for Time Warner|newspaper=Los Angeles Times|url=https://www.latimes.com/entertainment/envelope/la-xpm-2014-mar-11-la-et-ct-time-warner-name-20140311-story.html|access-date=April 6, 2018|archive-date=May 2, 2019|archive-url=https://web.archive.org/web/20190502062354/https://www.latimes.com/entertainment/envelope/la-xpm-2014-mar-11-la-et-ct-time-warner-name-20140311-story.html|url-status=live}}</ref> On October 22, 2016, AT&T officially announced that they intended on acquiring Time Warner for $85.4 billion (or $108.7 billion when including assumed Time Warner debt), valuing the company at $107.50 per share.<ref name=":0">{{Cite news|url=https://www.wsj.com/articles/at-t-is-in-advanced-talks-to-acquire-time-warner-1477061850|title=AT&T Is in Advanced Talks to Acquire Time Warner|last=Hagey|first=Keach|date=October 22, 2016|work=[[The Wall Street Journal]]|access-date=March 18, 2019|last2=Sharma|first2=Amol|language=en-US|issn=0099-9660|last3=Cimilluca|first3=Dana|last4=Gryta|first4=Thomas|archive-date=October 22, 2016|archive-url=https://web.archive.org/web/20161022013505/http://www.wsj.com/articles/at-t-is-in-advanced-talks-to-acquire-time-warner-1477061850|url-status=live}}</ref><ref>{{cite web |url=https://variety.com/2016/biz/news/att-time-warner-deal-1201897938/ |title=AT&T Sets $85.4 Billion Time Warner Deal, CEOs Talks 'Unique' Potential of Combination |last=Littleton |first=Cynthia |work=Variety |date=October 22, 2016 |access-date=October 23, 2016 |archive-date=October 23, 2016 |archive-url=https://web.archive.org/web/20161023204133/http://variety.com/2016/biz/news/att-time-warner-deal-1201897938/ |url-status=live }}</ref> The proposed merger was confirmed on June 12, 2018,<ref>{{Cite news |url=https://money.cnn.com/2018/06/12/media/att-time-warner-ruling/index.html |title=Judge approves $85 billion AT&T-Time Warner deal |last=Gold |first=Hadas |work=CNNMoney |access-date=June 12, 2018 |archive-date=July 11, 2018 |archive-url=https://web.archive.org/web/20180711204644/https://money.cnn.com/2018/06/12/media/att-time-warner-ruling/index.html |url-status=live }}</ref> after AT&T won an [[competition law|antitrust]] lawsuit that the [[United States Department of Justice|U.S. Justice Department]] filed in 2017 to attempt to block the acquisition,<ref>{{Cite news |url=https://www.nytimes.com/2017/11/20/business/dealbook/att-time-warner-merger.html |title=Justice Department Sues to Block AT&T-Time Warner Merger |last=Kang |first=Cecilia |date=November 20, 2017 |work=The New York Times |access-date=December 11, 2017 |last2=Merced |first2=Michael |language=en-US |issn=0362-4331 |archive-date=December 11, 2017 |archive-url=https://web.archive.org/web/20171211123601/https://www.nytimes.com/2017/11/20/business/dealbook/att-time-warner-merger.html |url-status=live }}</ref> and was completed two days later, when the company became a subsidiary of AT&T.<ref>{{cite web |url=http://about.att.com/story/att_completes_acquisition_of_time_warner_inc.html |title=AT&T Completes Acquisition of Time Warner Inc. |work=AT&T |date=June 15, 2018 |access-date=June 15, 2018 |archive-date=June 15, 2018 |archive-url=https://web.archive.org/web/20180615011751/http://about.att.com/story/att_completes_acquisition_of_time_warner_inc.html |url-status=live }}</ref> The company's final name was adopted a day later.<ref name="rebrand">{{Cite web |url=https://www.cnbc.com/2018/06/15/time-warner-is-changing-its-name-to-warnermedia-turner-ceo-to-depart.html |title=Time Warner is changing its name to WarnerMedia; Turner CEO to depart |website=[[CNBC]] |date=June 15, 2018 |access-date=June 15, 2018 |archive-date=March 20, 2020 |archive-url=https://web.archive.org/web/20200320102836/https://www.cnbc.com/2018/06/15/time-warner-is-changing-its-name-to-warnermedia-turner-ceo-to-depart.html |url-status=live }}</ref> Under AT&T, the company moved to launch a [[List of streaming media services|streaming service]] built around the company's content, known as HBO Max. WarnerMedia refolded Turner's entertainment-based networks under a singular umbrella unit on August 10, 2020, through a consolidation of the WarnerMedia Entertainment and Warner Bros. Entertainment assets into a new unit, WarnerMedia Studios & Networks Group.<ref name="deadline-wmlayoffs">{{cite web|title=WarnerMedia Begins Layoffs In Latest Streamlining Effort|url=https://deadline.com/2020/08/warnermedia-begins-layoffs-in-latest-streamlining-effort-1203008860/|last=Hayes|first=Dade|work=Deadline Hollywood|date=August 10, 2020|access-date=August 31, 2020|archive-date=August 23, 2022|archive-url=https://web.archive.org/web/20220823144855/https://deadline.com/2020/08/warnermedia-begins-layoffs-in-latest-streamlining-effort-1203008860/|url-status=live}}</ref><ref name="thr-wmlayoffs">{{cite web|title=Bob Greenblatt, Kevin Reilly Out Amid Major WarnerMedia Restructuring|url=https://www.hollywoodreporter.com/tv/tv-news/bob-greenblatt-kevin-reilly-major-warnermedia-restructuring-1306486/|last=Goldberg|first=Lesley|work=The Hollywood Reporter|date=August 7, 2020|access-date=August 31, 2020|archive-date=August 7, 2020|archive-url=https://web.archive.org/web/20200807204145/https://www.hollywoodreporter.com/live-feed/bob-greenblatt-kevin-reilly-major-warnermedia-restructuring-1306486|url-status=live}}</ref> On May 17, 2021, nearly three years after the acquisition, AT&T decided to leave the entertainment business by announcing that it had proposed to sell its ownership of WarnerMedia in a merger with [[Discovery, Inc.]] to form a new publicly traded company, [[Warner Bros. Discovery]]. The deal closed on April 8, 2022.

The company's previous assets included Time Inc., [[TW Telecom]], [[AOL]], [[Time Warner Cable]], [[Hachette Book Group|AOL Time Warner Book Group]], and [[Warner Music Group]]; these operations were either sold to others or spun off as independent companies. As of 2024, the company is ranked No. 130 in the [[Fortune 500|''Fortune'' 500]] list of the largest U.S. corporations by total revenue.<ref>{{Cite web |title=Time Warner Cable |url=https://fortune.com/company/time-warner-cable/ |access-date=2024-12-26 |website=Fortune |language=en}}</ref><ref>{{Cite web |title=Time Warner |url=https://fortune.com/company/time-warner/ |access-date=2024-12-26 |website=Fortune |language=en}}</ref>

== Background ==
{{main|Kinney National Company|Time Inc.|Turner Broadcasting System}}

=== Warner Communications (1972–1990) ===
{{infobox company
| name = Warner Communications Inc.
| logo = Warner Communications Inc..svg
| logo_caption = Warner Communications' logo, designed by [[Saul Bass]] and nicknamed "Big W", used from 1972 to 1990. Since 2004, the stylized W has been used by [[Warner Music Group]], which is no longer part of what is now [[Warner Bros. Discovery]].
| type = [[Public company|Public]]
| traded_as = {{NYSE was|WCI}}
| industry = [[Outline of entertainment|Entertainment]]
| founder = [[Steve Ross (businessman)|Steve Ross]]<br>William V. Frankel
| predecessor = [[Kinney National Company|Kinney Services Inc.]]
| foundation = {{start date and age|1972|02|10}}
| defunct = {{end date and age|1990|01|10}}
| fate = Merged with [[Time Inc.]] to form Time Warner
| successor = WarnerMedia<br>[[Warner Bros. Discovery]]
| subsid = {{Plainlist|
* [[Warner Bros. Pictures|Warner Bros.]]
* [[Warner Bros. Television Studios|Warner Bros. Television]]
* [[Warner Bros. Animation]]
* [[Warner Home Video]]
* [[Lorimar Productions]]
* [[Telepictures]]
* [[David Wolper|Wolper Productions]]
* [[DC Comics]]
* [[Mad Magazine]]
* [[Warner Records|Warner Bros. Records]]
* [[Atlantic Records|Atlantic Music Group]]
* [[Warner Music Group|Warner-Elektra-Atlantic]]
* [[Paramount Media Networks#History|Warner-Amex Satellite Entertainment]]
* [[Time Warner Cable|Warner Cable]]
* [[New York Cosmos (1970-1985)|Global Soccer, Inc.]]}}
| operating_income = {{decrease}} 7.965 billion (1986)
| num_employees = 26.300 (1985)
}}

On February 10, 1972, the entertainment assets of the [[Kinney National Company]] were reincorporated as '''Warner Communications''' due to a financial scandal involving price fixing in its parking operations.<ref name="bruck">{{cite book |author=Connie Bruck |year=2013 |title=Master of the Game: Steve Ross and the Creation of Time Warner |url=https://books.google.com/books?id=s5uQoR6o7U4C |location=New York |publisher=Simon and Schuster |isbn=9781476737706 |access-date=August 30, 2015}}</ref> Warner Communications served as the parent company for [[Warner Bros. Pictures]], the [[Warner Music Group]] (WMG), [[Grand Central Publishing|Warner Books]] and [[Warner Cable]] during the 1970s and 1980s. It also owned [[DC Comics]] and [[Mad (magazine)|''Mad'' magazine]]. The European publishing division, which produced magazines and comics, was known as [[Williams Publishing]]; thanks to a prior acquisition (from [[Gilberton (publisher)|Gilberton World-Wide Publications]]),<ref name="Jones2">Jones Jr., William B. ''Classics Illustrated: A Cultural History'', 2d ed. (McFarland & Company, 2017).</ref> it had European-language branches in the United Kingdom,<ref>[https://www.comics.org/publisher/3535/ Williams Publishing] {{Webarchive|url=https://web.archive.org/web/20210429003726/https://www.comics.org/publisher/3535/ |date=2021-04-29 }}, Grand Comics Database. Retrieved April 30, 2021.</ref> [[Denmark]],<ref>[https://www.comics.org/publisher/6330/ Williams] {{Webarchive|url=https://web.archive.org/web/20210430124910/https://www.comics.org/publisher/6330/ |date=2021-04-30 }}, Grand Comics Database. Retrieved April 30, 2021.</ref> [[Finland]],<ref>[https://www.comics.org/publisher/9086/ Kustannus Oy Williams] {{Webarchive|url=https://web.archive.org/web/20210430182328/https://www.comics.org/publisher/9086/ |date=2021-04-30 }}, Grand Comics Database. Retrieved April 30, 2021.</ref> [[France]],<ref>[https://www.comics.org/publisher/11038/ Williams France] {{Webarchive|url=https://web.archive.org/web/20210430202327/https://www.comics.org/publisher/11038/ |date=2021-04-30 }}, Grand Comics Database. Retrieved April 30, 2021.</ref> [[West Germany]],<ref>[https://www.comics.org/publisher/3532/ BSV – Williams] {{Webarchive|url=https://web.archive.org/web/20210430175735/https://www.comics.org/publisher/3532/ |date=2021-04-30 }}, Grand Comics Database. Retrieved April 30, 2021.</ref> [[Italy]],<ref>"[https://www.comics.org/publisher/4256/ Edizioni Williams Inteuropa] {{Webarchive|url=https://web.archive.org/web/20210430182328/https://www.comics.org/publisher/4256/ |date=2021-04-30 }}", Grand Comics Database. Retrieved April 30, 2021.</ref> the Netherlands,<ref>[https://www.comics.org/publisher/296/ Classics/Williams] {{Webarchive|url=https://web.archive.org/web/20210501012536/https://www.comics.org/publisher/296/ |date=2021-05-01 }}, Grand Comics Database. Retrieved April 30, 2021.</ref> [[Norway]],<ref>[https://www.comics.org/publisher/2125/ Illustrerte Klassikere / Williams Forlag] {{Webarchive|url=https://web.archive.org/web/20210525171035/https://www.comics.org/publisher/2125/ |date=2021-05-25 }}, Grand Comics Database. Retrieved June 22, 2021.</ref> and [[Sweden]].<ref>[https://www.comics.org/publisher/379/ Williams Förlags AB] {{Webarchive|url=https://web.archive.org/web/20210428232334/https://www.comics.org/publisher/379/ |date=2021-04-28 }}, Grand Comics Database. Retrieved April 30, 2021.</ref> Most of these publishers were sold off around 1979.

During its time as Warner Communications, the company made several further acquisitions. In 1979, Warner formed a joint venture with credit card company [[American Express]] called [[Warner-Amex Satellite Entertainment]]. This company owned such cable channels as [[MTV]], [[Nickelodeon]], [[The Movie Channel]], and [[VH1]] (which was launched in 1985 on the channel space left by [[Turner Broadcasting System|Turner]]'s [[Cable Music Channel]]). Warner bought out American Express's half in 1984 and sold the venture a year later to the [[Viacom (1952–2006)|original iteration of Viacom]], which renamed it [[Paramount Media Networks#Background|MTV Networks]] (now known as Paramount Media Networks). In 1982, Warner purchased [[Popular Library]] from [[CBS Publications]].<ref>{{cite encyclopedia| title=Copyrights of Golden-Age Comics| url=http://www.herogoggles.com/copyright1.html| encyclopedia=Golden-Age Comic book Superheroes & Villains Encyclopedia| access-date=September 20, 2011| archive-date=September 21, 2011| archive-url=https://web.archive.org/web/20110921035105/http://www.herogoggles.com/copyright1.html| url-status=live}}</ref>  In 1982 it bought a 48% stake in the [[Major League Baseball]] franchise [[Pittsburgh Pirates]], holding it until the end of 1986.<ref>{{Cite web |title=The Pittsburgh Pirates and Warner Communications, Inc. announced Tuesday... - UPI Archives |url=https://www.upi.com/Archives/1983/01/18/The-Pittsburgh-Pirates-and-Warner-Communications-Inc-announced-Tuesday/6388411714000/ |access-date=2025-07-18 |website=UPI |language=en}}</ref>

==== Financial issues and corporate transition ====
By the mid to late 1980s, Warner began to face financial difficulties. From 1976 to 1984, Warner Communications owned [[Atari, Inc.]], but suffered substantial losses due to the [[video game crash of 1983]], and spun them off in 1984.<ref name="nytimes warner sells">{{Cite news|url=https://www.nytimes.com/1984/07/03/business/warner-sells-atari-to-tramiel.html|title=Warner Sells Atari to Tramiel|author=David E. Sanger|work=[[The New York Times]]|date=July 3, 1984|access-date=November 2, 2023|archive-date=October 2, 2021|archive-url=https://ghostarchive.org/archive/20211002231020/https://www.nytimes.com/1984/07/03/business/warner-sells-atari-to-tramiel.html|url-status=live}}</ref> Taking advantage of Warner Communications' financial situation, [[Time Inc.]] announced on March 4, 1989, that the two companies were to merge.<ref>{{Cite news|url=https://www.nytimes.com/1989/03/05/us/time-inc-and-warner-to-merge-creating-largest-media-company.html|title=Time Inc. and Warner to Merge, Creating Largest Media Company|last=Norris|first=Floyd|date=March 5, 1989|work=The New York Times|access-date=March 18, 2019|language=en-US|issn=0362-4331|archive-date=September 1, 2020|archive-url=https://web.archive.org/web/20200901012649/https://www.nytimes.com/1989/03/05/us/time-inc-and-warner-to-merge-creating-largest-media-company.html|url-status=live}}</ref>

During the summer of 1989, [[Paramount Communications]] (then [[Gulf+Western]]) launched a $12.2 billion [[hostile bid]] to acquire Time Inc. in an attempt to end a stock-swap merger deal between Time Inc. and Warner Communications.<ref>{{Cite web|last=|date=October 31, 1989|title=P. M. Briefing : 2 Simon & Schuster Units Sold|url=https://www.latimes.com/archives/la-xpm-1989-10-31-fi-360-story.html|access-date=October 26, 2021|website=Los Angeles Times|language=en-US|archive-date=October 26, 2021|archive-url=https://web.archive.org/web/20211026160239/https://www.latimes.com/archives/la-xpm-1989-10-31-fi-360-story.html|url-status=live}}</ref> Time Inc. raised its bid to $14.9 billion in cash and stock. Paramount responded by filing a lawsuit in a Delaware court to block the Time Warner merger. The court ruled twice in favor of Time Inc., forcing Paramount to drop both the Time Inc. acquisition and the lawsuit, and allowing the two companies to merge, which was completed on January 10, 1990.<ref>{{Cite web |title=URGENT Delaware Court Rules In Favor Of Time-Warner Merger |url=https://apnews.com/article/377d1dd274bb79706a2a764581daa167 |access-date=2022-05-05 |website=AP NEWS |language=en |archive-date=2022-05-05 |archive-url=https://web.archive.org/web/20220505164557/https://apnews.com/article/377d1dd274bb79706a2a764581daa167 |url-status=live }}</ref>

== History ==
=== Time Warner (1990–1992) and Time Warner Entertainment (1992–2001) ===
[[US West]] partnered with Time Warner Entertainment in 1993 to form what was later known as [[TW Telecom]], initially known as Time Warner Communications (also utilized as the brand name for cable operation previously under the ATC name), in order to bring telephone via fiber to the masses. US West also took a 26% stake in the entertainment portion of the company, calling that division Time Warner Entertainment. US West's stake eventually passed to acquired cable company [[MediaOne]], then to [[AT&T Broadband]] in 1999 when that company acquired MediaOne, then finally to [[Comcast]] in 2001 when that company bought the AT&T Broadband division. Comcast sold their stake in the company in 2003, relegating the name to a subdivision under Time Warner Cable.

In 1991, HBO and [[Cinemax]] became the first premium pay services to offer multiplexing to cable customers, with companion channels supplementing the main networks.<ref>{{cite news |url=https://www.economist.com/briefing/2011/08/20/the-winning-streak |title=The winning streak |newspaper=The Economist |access-date=2020-07-25 |archive-date=2021-10-28 |archive-url=https://web.archive.org/web/20211028175143/https://www.economist.com/briefing/2011/08/20/the-winning-streak |url-status=live }}</ref> In 1993, HBO became the world's first digitally transmitted television service.<ref>{{cite web |url=https://prmarketingcommunication.wordpress.com/2012/03/12/brand-history-hbo/ |archive-url=https://archive.today/20130618035819/http://prmarketingcommunication.wordpress.com/2012/03/12/brand-history-hbo/ |url-status=dead |title=WordPress.com |date=June 18, 2013 |archive-date=June 18, 2013 |website=Wordpress.com |access-date=December 16, 2017}}</ref> In 1995, CNN introduced CNN.com which later became a leading destination for global digital news, both online and mobile.<ref>{{cite web |url=https://img.ctrlq.org/files/translation.html |title=CNN News Website – Wikipedia |work=labnol.org |access-date=2020-07-25 |archive-date=2021-10-27 |archive-url=https://web.archive.org/web/20211027175342/https://img.ctrlq.org/files/translation.html |url-status=dead }}</ref> In 1996, Warner Bros. spearheaded the introduction of the DVD, which gradually replaced VHS tapes as the standard format for home video in the late 1990s and early to mid-2000s.<ref>{{cite web |url=http://www.spannerworks.net/reference/10_8a.asp |title=DVD Basics and History |website=Spannerworks.net |access-date=2013-06-11 |archive-date=2013-06-25 |archive-url=https://web.archive.org/web/20130625011328/http://www.spannerworks.net/reference/10_8a.asp |url-status=usurped }}</ref> In 1999, HBO became the first national cable television network to broadcast a high–definition version of its channel.<ref>{{cite web |url=https://www.multichannel.com/technology/hbo-cto-zitter-step-down/140623 |title=HBO CTO Zitter to Step Down |website=Multichannel.com |access-date=July 25, 2020 |archive-date=February 23, 2013 |archive-url=https://web.archive.org/web/20130223180720/http://www.multichannel.com/technology/hbo-cto-zitter-step-down/140623 |url-status=dead }}</ref>

Time Warner Entertainment completed its purchase of [[Six Flags|Six Flags Theme Parks]] in 1993 after buying half of the company in 1991, saving it from financial trouble.<ref>{{cite news |url=https://www.latimes.com/archives/la-xpm-1993-09-21-fi-37629-story.html |title=Time Warner Completes Six Flags Purchase : Amusement: Company will use more of its cartoon characters at theme parks, including site near Valencia. |newspaper=Los Angeles Times |date=September 21, 1993 |last=Bryant |first=Rebecca |access-date=2020-07-25 |archive-date=2022-04-07 |archive-url=https://web.archive.org/web/20220407235005/https://www.latimes.com/archives/la-xpm-1993-09-21-fi-37629-story.html |url-status=live }}</ref> The company was later sold to Oklahoma-based theme park operator [[Six Flags#History of Premier Parks|Premier Parks]] under certain terms and conditions on April 1, 1998.<ref>{{cite news |title=Time Warner Completes Sale of Stake in Six Flags for $440 Million in Cash {{!}} Time Warner Inc. |url=http://www.timewarner.com/newsroom/press-releases/1998/04/01/time-warner-completes-sale-of-stake-in-six-flags-for-440-million |work=Time Warner |language=en}}</ref>

Dick Parsons, already a director on the board since 1991, was hired as Time Warner Entertainment president in 1995, although the division operational heads continued to report directly to chairman and CEO [[Gerald M. Levin|Gerald Levin]].<ref>[https://business.time.com/2007/05/04/time_warner_coo_for_media_corp/ Time Warner COO: For Media, Corporate Diversity Is About Business] {{Webarchive|url=https://web.archive.org/web/20220418053339/https://business.time.com/2007/05/04/time_warner_coo_for_media_corp/ |date=2022-04-18 }}, ''[[Time (magazine)|Time]]''</ref>

On October 10, 1996, Time Warner Entertainment acquired [[Turner Broadcasting System]], which was established by [[Ted Turner]] in 1965. Not only did this result in the company re-entering the cable television industry as a national programmer, but Warner Bros. also regained the rights to their pre-1950<ref>''You Must Remember This: The Warner Bros. Story'' (2008), p. 255.</ref><ref>WB retained a pair of features from 1949 that they merely distributed, and all short subjects released on or after September 1, 1948; in addition to all cartoons released in August 1948.</ref> film library, which by then had been owned by Turner (the films are still technically held by Turner, but Warner Bros. is responsible for sales and distribution),<ref>{{Cite news|url=https://www.nytimes.com/1996/10/11/business/holders-back-time-warner-turner-merger.html|title=Holders Back Time Warner-Turner Merger|last=Fabrikant|first=Geraldine|date=October 11, 1996|work=The New York Times|access-date=March 18, 2019|language=en-US|issn=0362-4331|archive-date=February 14, 2015|archive-url=https://web.archive.org/web/20150214040754/http://www.nytimes.com/1996/10/11/business/holders-back-time-warner-turner-merger.html|url-status=live}}</ref> while Turner gained access to Warner Bros.' post-1950 library, as well as other Warner Bros.-owned properties. The Turner deal also brought two separate film companies, [[New Line Cinema]] and [[Castle Rock Entertainment]], both of which were integrated into [[Warner Bros.]]<ref>{{Cite web |title=TURNER ACQUIRING MOVIE COMPANIES |url=https://www.mcall.com/news/mc-xpm-1993-08-18-2932606-story.html |access-date=2022-05-05 |website=The Morning Call |date=18 August 1993 |language=en |archive-date=2024-05-03 |archive-url=https://web.archive.org/web/20240503041235/https://playlist.stnvideo.com/player/data/index.php?cmd=loadInitial&session=6ETCXjd7P9GAWYnu&instance=198184328&version=7.32.14-Z&age=240503&ESG_key=yDXFiiit&type=FULL&EXTREF=https://www.mcall.com/1993/08/18/turner-acquiring-movie-companies/&REF=https://www.mcall.com/1993/08/18/turner-acquiring-movie-companies/&ogSet=1 |url-status=live }}</ref> The Turner deal also gave Time Warner Entertainment access to [[Metro-Goldwyn-Mayer]] (MGM)'s pre-May 1986 library and the pre-1991 libraries of animation studios [[Hanna-Barbera]] and [[Ruby-Spears]].

=== {{Anchor|AOL-Time Warner merger}}AOL Time Warner (2001–2003) ===
{{See also|Dot-com bubble}}[[File:AOL Time Warner Logo.svg|thumb|right|Logo for AOL Time Warner (2001–2003)]]
In January 2000, [[AOL|America Online]] (AOL) stated its intentions to purchase Time Warner Entertainment for $183 billion.<ref>{{cite web |url=https://imaa-institute.org/mergers-and-acquisitions-statistics/#TopMergersAcquisitions_Worldwide |title=Statistics on Mergers & Acquisitions (M&A) – M&A Courses &#124; Company Valuation Courses &#124; Mergers & Acquisitions Courses |website=Imaa-institute.org |access-date=December 27, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20120106045040/http://www.imaa-institute.org/statistics-mergers-acquisitions.html |archive-date=January 6, 2012}}</ref> Due to the larger market capitalization of AOL, their shareholders would own 55% of the new company while [[Time Warner Entertainment]] shareholders owned only 45%,<ref name="aoltw-merger-pressrelease">{{cite web |url=https://www.warnermediagroup.com/corp/newsroom/pr/0,20812,667602,00.html |title=America Online and Time Warner Will Merge to Create World's First Internet-Age Media and Communications Company |work=Time Warner corporate homepage |date=January 10, 2000 |access-date=May 6, 2007 }}{{Dead link|date=January 2022 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> so in actual practice AOL had merged with Time Warner Entertainment, even though Time Warner Entertainment had far more assets and revenues. Time Warner Entertainment had been looking for a way to embrace the digital revolution, while AOL wanted to anchor its stock price with more tangible assets.<ref>{{cite book|last=Munk|first=Nina|year=2004|title=Fools Rush In}}</ref>

The deal, officially filed on February 11, 2000,<ref name="aoltw-merger-pressrelease" /><ref name="fcc-aoltw">{{cite web |url=https://www.fcc.gov/redirect-transition/bureaus/mb/aoltw/aoltw.html |title=America Online-Time Warner Merger Page |work=Federal Communications Commission homepage |author=Federal Communications Commission |date=March 25, 2003 |access-date=May 6, 2007 }}{{Dead link|date=February 2021 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> employed a merger structure in which each original company merged into a newly created entity. The [[Federal Trade Commission]] (FTC) cleared the deal on December 14, 2000,<ref>{{cite web |url=https://www.ftc.gov/opa/2000/12/aol.shtm |title=FTC Approves AOL/Time Warner Merger with Conditions |work=Federal Trade Commission website |author=Federal Trade Commission |date=December 14, 2000 |access-date=May 6, 2007 |url-status=dead |archive-url=https://web.archive.org/web/20070516084741/http://www.ftc.gov/opa/2000/12/aol.shtm |archive-date=May 16, 2007}}</ref> and gave final approval on January 11, 2001; the company completed the merger later that day.<ref>{{cite web |url=https://www.cnet.com/news/aol-time-warner-complete-merger-with-fcc-blessing/ |title=AOL, Time Warner complete merger with FCC blessing |work=CNET News.com |author=Patrick Ross, Evan Hansen |date=January 11, 2001 |access-date=May 6, 2007 |archive-date=June 7, 2021 |archive-url=https://web.archive.org/web/20210607172708/https://www.cnet.com/news/aol-time-warner-complete-merger-with-fcc-blessing/ |url-status=live }}</ref> The deal was approved on the same day by the [[Federal Communications Commission]] (FCC),<ref name="fcc-aoltw" /> and had already been cleared by the [[European Commission]] (EC) on October 11, 2000.<ref>{{cite news |url=http://news.bbc.co.uk/2/hi/business/967049.stm |title=EU statement: AOL, Time Warner |work=BBC News Online |date=October 11, 2000 |access-date=May 6, 2007 |archive-date=October 26, 2021 |archive-url=https://web.archive.org/web/20211026050709/http://news.bbc.co.uk/2/hi/business/967049.stm |url-status=live }}</ref>

'''AOL Time Warner Inc.''', as the company was then called, was supposed to be a merger of equals with top executives from both sides. [[Gerald Levin]], who had served as chairman and CEO of Time Warner Entertainment, was CEO of the new company. AOL co-founder [[Steve Case]] served as [[Executive Chairman]] of the board of directors, [[Robert W. Pittman]] (president and COO of AOL) and [[Richard Parsons (businessman)|Dick Parsons]] (president of Time Warner) served as Co-Chief Operating Officers, and J. Michael Kelly (the CFO from AOL) became the chief financial officer.<ref name="ninamunk.com">{{cite web |url=http://www.ninamunk.com/documents/PowerFailure.htm |title=Power Failure |publisher=Nina Munk |access-date=June 25, 2013 |url-status=dead |archive-url=https://web.archive.org/web/20110714183334/http://www.ninamunk.com/documents/PowerFailure.htm |archive-date=July 14, 2011}}</ref>

According to AOL President and COO Bob Pittman, the slow-moving Time Warner Entertainment would now take off at Internet speed, accelerated by AOL: "All you need to do is put a catalyst to [Time Warner Entertainment], and in a short period, you can alter the growth rate. The growth rate will be like an Internet company." The vision for Time Warner Entertainment's future seemed clear and straightforward; by tapping into AOL, Time Warner Entertainment would reach deep into the homes of tens of millions of new customers. AOL would use Time Warner Entertainment's high-speed cable lines to deliver to its subscribers Time Warner Entertainment's branded magazines, books, music, and movies. This would have created 130 million subscription relationships.

However, the growth and profitability of the AOL division stalled due to advertising and loss of market share to the growth of high-speed broadband providers. The value of the AOL division dropped significantly, not unlike the market valuation of similar independent internet companies that drastically fell, and forced a [[goodwill (accounting)|goodwill]] [[write-off]], causing AOL Time Warner to report a loss of $99 billion in 2002 — at the time, the largest loss ever reported by a company. The total value of AOL stock subsequently went from $226 billion to about $20 billion.<ref>{{cite news |url=https://news.yahoo.com/s/nm/20060727/wr_nm/media_timewarner_aol_dc_7 |title=AOL expected to scrap charges |first=Kenneth |last=Li |newspaper=Yahoo! News |publisher=Yahoo! |date=July 26, 2006 |access-date=August 9, 2006 |archive-url=https://web.archive.org/web/20060818100420/https://news.yahoo.com/s/nm/20060727/wr_nm/media_timewarner_aol_dc_7 |archive-date=August 18, 2006 |url-status=live}}</ref>

An outburst by Vice-Chairman [[Ted Turner]] at a board meeting prompted Steve Case to contact each of the directors and push for CEO Gerald Levin's ouster. Although Case's coup attempt was rebuffed by Parsons and several other directors, Levin became frustrated with being unable to "regain the rhythm" at the combined company and handed in his resignation in the fall of 2001, effective in May 2002.<ref name="ajbianco.com">{{cite web |url=http://www.ajbianco.com/can_dick_parsons_rescue_time_warner.php |title=Anthony Bianco – Cover Stories |website=Ajbianco.com |date=May 19, 2003 |access-date=December 27, 2011 |archive-url=https://web.archive.org/web/20100518142337/http://www.ajbianco.com/can_dick_parsons_rescue_time_warner.php |archive-date=May 18, 2010 |url-status=dead}}</ref> Although Co-COO Bob Pittman was the strongest supporter of Levin and largely seen as the heir-apparent, Dick Parsons was instead chosen as CEO. Time Warner Entertainment CFO J. Michael Kelly was demoted to COO of the AOL division and replaced as CFO by Wayne Pace. AOL Chairman and CEO Barry Schuler was removed from his position and placed in charge of a new "content creation division", being replaced on an interim basis by Pittman, who was already serving as the sole COO after Parsons' promotion.<ref>{{Cite web |last=Roberts |first=Johnnie L. |date=2001-12-16 |title=Make Way For The Ceo |url=https://www.newsweek.com/make-way-ceo-148569 |access-date=2022-05-05 |website=Newsweek |language=en |archive-date=2022-05-05 |archive-url=https://web.archive.org/web/20220505165201/https://www.newsweek.com/make-way-ceo-148569 |url-status=live }}</ref>

Many of the expected synergies between AOL and other Time Warner Entertainment divisions never materialized, as most Time Warner Entertainment divisions were considered independent fiefs that rarely cooperated prior to the merger. A new incentive program that granted options based on the performance of AOL Time Warner, replacing the cash bonuses for the results of their own division, caused resentment among Time Warner Entertainment division heads who blamed the AOL division for failing to meet expectations and dragging down the combined company. AOL Time Warner COO Pittman, who expected to have the divisions working closely towards convergence instead found heavy resistance from many division executives, who also criticized Pittman for adhering to optimistic growth targets for AOL Time Warner that were never met. Some of the attacks on Pittman were reported to come from the print media in the Time, Inc. division under [[Don Logan]].<ref name="kara.allthingsd">{{cite news |url=http://kara.allthingsd.com/20080806/the-125-million-sweet-dailycandy-revenge-of-bob-pitchman/ |title=The $125 Million-Sweet DailyCandy Revenge of Bob "Pitchman" |first=Kara |last=Swisher |author-link=Kara Swisher |website=kara.[[allthingsd.com]] |date=August 6, 2008 |access-date=December 27, 2011 |archive-date=August 9, 2020 |archive-url=https://web.archive.org/web/20200809132135/http://kara.allthingsd.com/20080806/the-125-million-sweet-dailycandy-revenge-of-bob-pitchman/ |url-status=live }}</ref> Furthermore, CEO Parsons' democratic style prevented Pittman from exercising authority over the "old-guard" division heads who resisted Pittman's synergy initiatives.<ref name="ninamunk.com" /><ref name="observer.com">{{cite web |last=Hagan |first=Joe |url=http://www.observer.com/node/46271 |title=Pittman's Last Stand &#124; The New York Observer |website=Observer.com |access-date=December 27, 2011 |archive-date=May 3, 2024 |archive-url=https://web.archive.org/web/20240503041340/https://observer.com/list/best-cbd-companies/ |url-status=live }}</ref>

Pittman resigned as AOL Time Warner COO after July 4, 2002, being reportedly burned out by the AOL special assignment and almost hospitalized, unhappy about the criticism from Time Warner executives, and seeing nowhere to move up in firm as Parsons was firmly entrenched as CEO.<ref name="observer.com" /> Pittman's departure was seen as a great victory to Time Warner executives who wanted to undo the merger. In a sign of AOL's diminishing importance to the media conglomerate, Pittman's responsibilities were divided between two Time Warner Entertainment veterans; Jeffrey Bewkes who was CEO of Home Box Office, and Don Logan who had been CEO of Time. Logan became chairman of the newly created media and communications group, overseeing America Online, Time, Time Warner Cable, the AOL Time Warner Book Group, and the Interactive Video unit, relegating AOL to being just another division in the conglomerate. Bewkes became chairman of the entertainment and networks group, comprising HBO, Cinemax, New Line Cinema, The WB, TNT, Turner Networks, Warner Bros., and Warner Music Group. Both Logan and Bewkes, who had initially opposed the merger, were chosen because they were considered the most successful operational executives in the conglomerate and they would report to AOL Time Warner CEO Richard Parsons.<ref name="kara.allthingsd" /><ref>{{cite web |url=https://www.cnet.com/news/pittman-to-leave-aol-time-warner/ |title=Pittman to leave AOL Time Warner – CNET News |website=CNET |publisher=CBS Interactive |access-date=December 27, 2011 |archive-date=February 1, 2016 |archive-url=https://web.archive.org/web/20160201182909/http://www.cnet.com/news/pittman-to-leave-aol-time-warner/ |url-status=live }}</ref> Logan, generally admired at Time Warner Entertainment and reviled by AOL for being a corporate timeserver who stressed incremental steady growth and not much of a risk-taker, moved to purge AOL of Pittman allies.<ref name="ajbianco.com" />

=== Time Warner (2003–2018) ===
{{Redirect-distinguish-for|Time Warner|Timo Werner|the former US cable television operator separated from Time Warner in 2009|Time Warner Cable}}
[[File:Time Warner wordmark.svg|thumb|right|Logo for Time Warner (2003–2018)]]
AOL Time Warner Chairman Steve Case took on added prominence as the co-head of a new strategy committee of the board, making speeches to divisions on synergism and the promise of the Internet. However, under pressure from institutional investor vice-president Gordon Crawford who lined up dissenters, Case stated in January 2003 that he would not stand for re-election as executive chairman in the upcoming annual meeting, making CEO Richard Parsons the chairman-elect. In July 2003,<ref>{{cite web |url=https://www.cbsnews.com/news/time-warner-drops-aol-name/ |title=Time Warner Drops AOL Name |last=Roberts |first=Joel |date=October 22, 2003 |work=CBS News |access-date=February 12, 2020 |archive-date=April 28, 2020 |archive-url=https://web.archive.org/web/20200428220823/https://www.cbsnews.com/news/time-warner-drops-aol-name/ |url-status=live }}</ref> the company dropped the "AOL" from its name, and spun off [[Time-Life]]'s ownership under the legal name Direct Holdings Americas, Inc.<ref>{{cite news |title=Time Life Unit Sold to Private Investing Group |newspaper=[[The Washington Post]] |archive-url=https://web.archive.org/web/20230326023851/https://www.washingtonpost.com/archive/business/2004/01/06/time-life-unit-sold-to-private-investing-group/e3a4212f-d1d7-40b8-a31c-402c0858e068/ |archive-date=2023-03-26 |url-status=live |url=https://www.washingtonpost.com/archive/business/2004/01/06/time-life-unit-sold-to-private-investing-group/e3a4212f-d1d7-40b8-a31c-402c0858e068/}}</ref>

In November 2003, Time Warner announced they would sell the [[Warner Music Group]], which hosted a variety of acts such as [[Madonna (entertainer)|Madonna]] and [[Prince (musician)|Prince]], to an investor group led by [[Edgar Bronfman Jr.]] and [[Thomas H. Lee Partners]], in order to cut its debt down to US $20 billion.<ref>{{cite news |url=https://money.cnn.com/2003/11/24/news/companies/warner_music/index.htm |work=CNN Money |title=Warner Music to be sold for $2.6B |access-date=March 17, 2020 |date=November 24, 2003 |archive-date=October 26, 2020 |archive-url=https://web.archive.org/web/20201026202157/https://money.cnn.com/2003/11/24/news/companies/warner_music/index.htm |url-status=live }}</ref> Case resigned from the Time Warner board on October 31, 2005.<ref name="ajbianco.com" /><ref>{{cite news |url=https://edition.cnn.com/2005/BUSINESS/10/31/stevde.case.aol/ |work=CNN |title=CNN.com – Steve Case quits Time Warner board – Oct 31, 2005 |access-date=May 25, 2010 |archive-date=August 25, 2010 |archive-url=https://web.archive.org/web/20100825020500/http://edition.cnn.com/2005/BUSINESS/10/31/stevde.case.aol/ |url-status=live }}</ref> [[Jeff Bewkes]], who eventually became CEO of Time Warner in 2008, described the 2001 merger with AOL as 'the biggest mistake in corporate history'.<ref>{{cite news |last=Barnett & Andrews |first=Emma & Amanda |title=AOL merger was 'the biggest mistake in corporate history', believes Time Warner chief Jeff Bewkes |url=https://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/media/8031227/AOL-merger-was-the-biggest-mistake-in-corporate-history-believes-Time-Warner-chief-Jeff-Bewkes.html |archive-url=https://ghostarchive.org/archive/20220110/https://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/media/8031227/AOL-merger-was-the-biggest-mistake-in-corporate-history-believes-Time-Warner-chief-Jeff-Bewkes.html |archive-date=January 10, 2022 |url-access=subscription |url-status=live |publisher=Telegraph Media Group Limited |access-date=February 26, 2013 |location=London |date=September 28, 2010}}{{cbignore}}</ref>

In 2005, Time Warner was among 53 entities that contributed the maximum of $250,000 to the second inauguration of President [[George W. Bush]].<ref>{{cite news |first=Jim |last=Drinkard |title=Donors get good seats, great access this week |url=https://www.usatoday.com/news/washington/2005-01-16-inauguration-donors_x.htm |newspaper=USA Today |publisher=Gannett Company |date=January 17, 2005 |access-date=May 25, 2008 |archive-date=June 28, 2012 |archive-url=https://web.archive.org/web/20120628235354/http://www.usatoday.com/news/washington/2005-01-16-inauguration-donors_x.htm |url-status=live }}</ref><ref>{{cite news |title=Financing the inauguration |url=https://www.usatoday.com/news/washington/2005-01-16-inaugural-donors_x.htm |newspaper=USA Today |publisher=Gannett Company |date=January 16, 2005 |access-date=May 25, 2008 |archive-date=June 28, 2012 |archive-url=https://web.archive.org/web/20120628235320/http://www.usatoday.com/news/washington/2005-01-16-inaugural-donors_x.htm |url-status=live }}</ref><ref>{{cite news |title=Some question inaugural's multi-million price tag |url=https://www.usatoday.com/news/washington/2005-01-14-price_x.htm |newspaper=USA Today |publisher=Gannett Company |date=January 14, 2005 |access-date=May 25, 2008 |archive-date=June 28, 2012 |archive-url=https://web.archive.org/web/20120628235330/http://www.usatoday.com/news/washington/2005-01-14-price_x.htm |url-status=live }}</ref> On December 27, 2007, newly installed Time Warner CEO Jeffrey Bewkes discussed possible plans to spin off [[Time Warner Cable]] and sell off AOL and Time Inc. This would leave a smaller company made up of Turner Broadcasting, Warner Bros. and HBO.<ref>{{cite web |url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=ata7DiR37G8I |archive-url=https://web.archive.org/web/20120221071715/http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ata7DiR37G8I |url-status=dead |archive-date=February 21, 2012 |title=Time Warner May End Reign as Largest Media Company (Update2) |work=bloomberg.com}}</ref> On February 28, 2008, co-chairmen and co-CEOs of New Line Cinema Bob Shaye and Michael Lynne resigned from the 40-year-old movie studio in response to Jeffrey Bewkes' demand for cost-cutting measures at the studio, which he intended to dissolve into Warner Bros.<ref>{{Cite web|last=Waxman|first=Sharon|date=February 28, 2008|title=RIP Bob Shaye and Michael Lynne|url=https://www.thewrap.com/rip-bob-shaye-and-michael-lynne-688/|access-date=September 10, 2020|website=TheWrap|language=en-US|archive-date=October 2, 2020|archive-url=https://web.archive.org/web/20201002060321/https://www.thewrap.com/rip-bob-shaye-and-michael-lynne-688/|url-status=live}}</ref>

In 2009, Time Warner spun out its Time Warner Cable division (which is now part of Charter Communications),<ref>{{cite news |url=http://dealbook.blogs.nytimes.com/2009/02/27/time-warner-cable-spin-off-to-finish-next-month/ |title=Time Warner Cable Spinoff to Finish Next Month |access-date=May 25, 2010 |newspaper=The New York Times |date=February 27, 2009 |archive-date=November 7, 2010 |archive-url=https://web.archive.org/web/20101107094920/http://dealbook.blogs.nytimes.com/2009/02/27/time-warner-cable-spin-off-to-finish-next-month/ |url-status=live }}</ref> and later AOL, as independent companies; AOL was later purchased by Verizon in 2015.<ref>{{cite web |url=https://money.cnn.com/2009/05/28/technology/timewarner_aol/ |title=Time Warner to split off AOL |first=Aaron |last=Smith |website=Money.cnn.com |access-date=November 9, 2017 |archive-date=November 9, 2017 |archive-url=https://web.archive.org/web/20171109134912/http://money.cnn.com/2009/05/28/technology/timewarner_aol/ |url-status=live }}</ref>

In the first quarter of 2010, Time Warner purchased additional interests in HBO Latin America Group for $217 million, which resulted HBO owning 80% of the equity interests of HBO LAG. In 2010, HBO purchased the remainder of its partners' interests in HBO Europe<ref>{{cite web |url=https://www.hbo-europe.com/ |title=HBO Europe |publisher=HBO Europe |access-date=June 25, 2013 |archive-date=September 20, 2021 |archive-url=https://web.archive.org/web/20210920060417/https://www.hbo-europe.com/ |url-status=live }}</ref> (formerly HBO Central Europe) for $136 million, net of cash acquired. In August 2010, Time Warner agreed to acquire Shed Media, a television production company, for £100 million. Its distribution operation, Outright Distribution, was folded into Warner Bros. International Television Production.<ref>{{cite news |url=https://www.theguardian.com/media/2010/aug/05/independent-production-companies-television |title=Time Warner buys Shed Media |last=Busfield |first=Steve |newspaper=the Guardian |date=August 5, 2010 |access-date=December 17, 2016 |archive-date=March 5, 2017 |archive-url=https://web.archive.org/web/20170305005938/https://www.theguardian.com/media/2010/aug/05/independent-production-companies-television |url-status=live }}</ref> On August 26, 2010, Time Warner acquired [[Chilevisión]].<ref>{{cite web |url=https://www.warnermediagroup.com/newsroom/press-releases/2010/08/Turner_Broadcasting_System_Inc_to_Acquire_Chilevisin_08-25-2010.php |title=Press Releases |work=Time Warner |access-date=July 25, 2020 |archive-date=November 6, 2018 |archive-url=https://web.archive.org/web/20181106181351/https://www.warnermediagroup.com/newsroom/press-releases/2010/08/Turner_Broadcasting_System_Inc_to_Acquire_Chilevisin_08-25-2010.php |url-status=dead }}</ref> WarnerMedia already operated in the country with [[CNN Chile]].<ref>{{cite news |url=https://www.reuters.com/article/us-chile-chilevision-timewarner-idUSTRE67O37R20100825 |title=Time Warner buys broadcaster Chilevision |newspaper=Reuters |date=August 25, 2010 |access-date=July 2, 2017 |archive-date=September 24, 2015 |archive-url=https://web.archive.org/web/20150924145839/http://www.reuters.com/article/2010/08/25/us-chile-chilevision-timewarner-idUSTRE67O37R20100825 |url-status=live }}</ref>

In May 2011, Warner Bros. Home Entertainment Group acquired [[Flixster]],<ref>{{cite web |url=https://www.warnermediagroup.com/newsroom/press-releases/2011/05/Warner_Bros_Home_Entertainment_Group_to_Acquire_Flixster_05-04-2011.php, |title=Press Releases |work=Time Warner |access-date=2020-07-25 |archive-date=2018-11-06 |archive-url=https://web.archive.org/web/20181106194617/https://www.warnermediagroup.com/newsroom/press-releases/2011/05/Warner_Bros_Home_Entertainment_Group_to_Acquire_Flixster_05-04-2011.php%2C |url-status=live }}</ref> a movie discovery application company. The acquisition also includes [[Rotten Tomatoes]], a movie review aggregator.<ref>{{Cite web |last=Knegt |first=Peter |date=2011-05-04 |title=Warner Brothers Buys Flixster, Rotten Tomatoes |url=https://www.indiewire.com/2011/05/warner-brothers-buys-flixster-rotten-tomatoes-54298/ |access-date=2022-05-05 |website=IndieWire |language=en |archive-date=2022-05-05 |archive-url=https://web.archive.org/web/20220505165518/https://www.indiewire.com/2011/05/warner-brothers-buys-flixster-rotten-tomatoes-54298/ |url-status=live }}</ref>

In June 2012, Time Warner (through [[Warner Bros. Television]]) acquired [[Alloy Entertainment]], a publisher and television studio whose works are aimed at teen girls and young women.<ref>{{cite web |url=https://www.hollywoodreporter.com/business/business-news/warner-bros-tv-group-alloy-entertainment-335850/ |title=Warner Bros. TV Group Acquires 'Gossip Girl' Producer Alloy Entertainment |last=Goldberg |first=Lesley |work=The Hollywood Reporter |date=June 11, 2012 |publisher=Eldridge Industries |access-date=February 18, 2020 |archive-date=February 28, 2020 |archive-url=https://web.archive.org/web/20200228231721/https://www.hollywoodreporter.com/news/warner-bros-tv-group-alloy-entertainment-335850 |url-status=live }}</ref> On August 6, 2012, Time Warner acquired [[Bleacher Report]], a sports news website. The property was placed under the control of the [[Turner Sports]] division.<ref>{{cite web |url=https://techcrunch.com/2012/08/06/time-warnerbleacher-report-deal-gets-ftc-nod-price-reportedly-under-200/ |title=Update: It's Done. Time Warner Buys Bleacher Report, Price Reportedly $175M |website=TechCrunch |publisher=Oath Inc. |date=May 23, 2011 |access-date=July 17, 2012 |archive-date=September 3, 2019 |archive-url=https://web.archive.org/web/20190903052937/https://techcrunch.com/2012/08/06/time-warnerbleacher-report-deal-gets-ftc-nod-price-reportedly-under-200/ |url-status=live }}</ref>

On March 6, 2013, Time Warner intended to spin off its publishing division Time Inc. as a separate, publicly traded company. The transaction was completed on June 6, 2014.<ref>{{cite web |url=https://mediadecoder.blogs.nytimes.com/2013/03/06/fate-of-four-time-inc-magazines-are-an-issue-in-talks-with-meredith/?mtrref=en.wikipedia.org&gwh=39C20D4A61B9109C3E09C9B45075F504&gwt=pay&assetType=REGIWALL |title=Time Warner Ends Talks With Meredith and Will Spin Off Time Inc. Into Separate Company |first=Amy |last=Chozick |website=Mediadecoder.blogs.nytimes.com |date=March 6, 2013 |access-date=July 25, 2020 |archive-date=July 25, 2020 |archive-url=https://web.archive.org/web/20200725082042/https://mediadecoder.blogs.nytimes.com/2013/03/06/fate-of-four-time-inc-magazines-are-an-issue-in-talks-with-meredith/?mtrref=en.wikipedia.org&gwh=39C20D4A61B9109C3E09C9B45075F504&gwt=pay&assetType=REGIWALL |url-status=live }}</ref><ref>{{cite web |url=https://deadline.com/2014/06/time-inc-and-time-warner-shares-slip-as-magazine-company-goes-public-786682/ |title=Time Inc Shares Slip As Magazine Company Goes Public |last=Lieberman |first=David |website=Deadline Hollywood |publisher=Penske Media Corporation |date=June 9, 2014 |access-date=October 20, 2016 |archive-date=July 14, 2014 |archive-url=https://web.archive.org/web/20140714213718/http://www.deadline.com/2014/06/time-inc-and-time-warner-shares-slip-as-magazine-company-goes-public/ |url-status=live }}</ref>

In January 2014, Time Warner, [[Related Companies]], and [[Oxford Properties Group]] announced that the then Time Warner intended to relocate the company's corporate headquarters and its New York City-based employees to [[30 Hudson Yards]] in the [[Hudson Yards Redevelopment Project|Hudson Yards neighborhood]] in [[Chelsea, Manhattan]], and has accordingly made an initial financial commitment.<ref>{{cite web |url=https://www.warnermediagroup.com/newsroom/press-releases/2014/01/16/time-warner-inc-announces-new-york-real-estate-development-plans |title=Time Warner Press Releases |publisher=Time Warner |date=January 16, 2014 |access-date=July 31, 2014 |archive-date=November 16, 2018 |archive-url=https://web.archive.org/web/20181116055208/https://www.warnermediagroup.com/newsroom/press-releases/2014/01/16/time-warner-inc-announces-new-york-real-estate-development-plans |url-status=live }}</ref> Time Warner sold its stake in the [[Columbus Circle]] building for $1.3 billion to Related and two wealth funds. The move would be completed in 2019.<ref>{{Cite news|url=https://www.nytimes.com/2014/01/17/nyregion/time-warner-announces-a-move-from-columbus-circle-to-hudson-yards.html|title=Time Warner Is Planning a Move to Hudson Yards|last=Bagli|first=Charles V.|date=January 16, 2014|work=The New York Times|access-date=March 18, 2019|language=en-US|issn=0362-4331|archive-date=September 17, 2020|archive-url=https://web.archive.org/web/20200917201123/https://www.nytimes.com/2014/01/17/nyregion/time-warner-announces-a-move-from-columbus-circle-to-hudson-yards.html|url-status=live}}</ref>

In June 2014, [[Rupert Murdoch]] made a bid for Time Warner at $85 per share in stock and cash ($80 billion total) which Time Warner's board of directors turned down in July. Time Warner's CNN unit would have been sold to ease antitrust issues of the purchase.<ref>{{Cite web|url=https://dealbook.nytimes.com/2014/07/16/rupert-murdoch-said-to-have-made-offer-for-time-warner/|title=Murdoch Puts Time Warner on His Wish List|last=Sorkin|first=Andrew Ross|last2=de la Merced|first2=Michael J.|date=July 17, 2014|website=DealBook|language=en|access-date=March 18, 2019|archive-date=February 24, 2019|archive-url=https://web.archive.org/web/20190224193131/https://dealbook.nytimes.com/2014/07/16/rupert-murdoch-said-to-have-made-offer-for-time-warner/|url-status=live}}</ref> On August 5, 2014, Murdoch withdrew his offer to purchase Time Warner.<ref>{{cite web |last=Lieberman |first=David |title=RUPE'S REVERSAL: Fox Withdraws Time Warner Bid, Will Spend $6B To Repurchase Shares |url=https://deadline.com/2014/08/fox-withdraws-time-warner-bid-will-spend-6b-to-repurchase-shares-814797/ |website=Deadline Hollywood |publisher=Penske Media Corporation |access-date=March 23, 2021 |date=August 5, 2014 |archive-date=April 24, 2021 |archive-url=https://web.archive.org/web/20210424031530/https://deadline.com/2014/08/fox-withdraws-time-warner-bid-will-spend-6b-to-repurchase-shares-814797/ |url-status=live }}</ref>

=== AT&T acquisition; as WarnerMedia (2018–2021) ===
{{See also|United States v. AT&T (2019)|Acquisition of Time Warner by AT&T|Dissolution of Turner Broadcasting System}}

On October 20, 2016, it was reported that [[AT&T]] was in talks to acquire Time Warner. The proposed deal would give AT&T significant holdings in the media industry. AT&T's competitor [[Comcast]] had previously [[Acquisition of NBC Universal by Comcast|acquired]] [[NBCUniversal]] in a similar bid to increase its media holdings, in concert with its ownership of television and internet providers.<ref>{{cite web |url=https://www.bloomberg.com/news/articles/2016-10-20/at-t-said-to-discuss-idea-of-takeover-in-time-warner-meetings |title=AT&T Discussed Idea of Takeover in Time Warner Meetings |last=Hammond |first=Ed |last2=Sherman |first2=Alex |last3=Moritz |first3=Scott |work=Bloomberg |date=October 20, 2016 |access-date=October 20, 2016 |archive-date=October 21, 2016 |archive-url=https://web.archive.org/web/20161021013535/http://www.bloomberg.com/news/articles/2016-10-20/at-t-said-to-discuss-idea-of-takeover-in-time-warner-meetings |url-status=live}}</ref><ref>{{cite news |url=https://www.usatoday.com/story/money/2016/10/20/report-t-considering-buying-time-warner/92475270/ |title=Time Warner shares soar on AT&T's interest |last=Yu |first=Roger |newspaper=USA Today |publisher=Gannett Company |date=October 20, 2016 |access-date=October 20, 2016 |archive-date=October 24, 2016 |archive-url=https://web.archive.org/web/20161024233649/http://www.usatoday.com/story/money/2016/10/20/report-t-considering-buying-time-warner/92475270/ |url-status=live }}</ref><ref name=":0" /> On October 22, 2016, AT&T reached a deal to buy Time Warner for $85.4 billion. The merger would bring Time Warner's properties under the same umbrella as AT&T's telecommunication holdings, including satellite provider [[DirecTV]].<ref>{{cite news |url=https://www.usatoday.com/story/money/2016/10/22/reports-t-agrees-buy-time-warner-more-than-80b/92589816/ |title=AT&T agrees to buy Time Warner for $85.4 billion |last=Yu |first=Roger |newspaper=USA Today |publisher=Gannett Company |date=October 22, 2016 |access-date=October 22, 2016 |archive-date=October 23, 2016 |archive-url=https://web.archive.org/web/20161023013659/http://www.usatoday.com/story/money/2016/10/22/reports-t-agrees-buy-time-warner-more-than-80b/92589816/ |url-status=live }}</ref><ref>{{Cite news|url=https://www.wsj.com/articles/at-t-reaches-deal-to-buy-time-warner-for-more-than-80-billion-1477157084|title=AT&T Reaches Deal to Buy Time Warner for $85.4 Billion|last=Gryta|first=Thomas|date=October 23, 2016|work=[[The Wall Street Journal]]|access-date=March 18, 2019|last2=Hagey|first2=Keach|language=en-US|issn=0099-9660|last3=Cimilluca|first3=Dana|last4=Sharma|first4=Amol|archive-date=October 23, 2016|archive-url=https://web.archive.org/web/20161023013659/http://www.wsj.com/articles/at-t-reaches-deal-to-buy-time-warner-for-more-than-80-billion-1477157084|url-status=live}}</ref> The deal faced criticism for the possibility that AT&T could use Time Warner content as leverage to discriminate against or limit access to the content by competing providers.<ref>{{Cite news |url=https://www.theatlantic.com/business/archive/2016/10/att-time-warner-boo-hiss/505367/ |title=Why the AT&T-Time Warner Deal Is So Unpopular |last=Chandler |first=Adam |work=The Atlantic |access-date=November 8, 2017 |archive-date=April 5, 2023 |archive-url=https://web.archive.org/web/20230405225924/https://www.theatlantic.com/business/archive/2016/10/att-time-warner-boo-hiss/505367/ |url-status=live }}</ref>

On February 15, 2017, Time Warner shareholders approved the merger.<ref>{{cite news |last=Kludt |first=Tom |title=Time Warner shareholders vote to approve AT&T merger |url=https://money.cnn.com/2017/02/15/media/time-warner-shareholders-att-merger/ |newspaper=CNNMoney |publisher=Time Warner |date=February 15, 2017 |access-date=July 25, 2020 |archive-date=April 1, 2019 |archive-url=https://web.archive.org/web/20190401233504/https://money.cnn.com/2017/02/15/media/time-warner-shareholders-att-merger/ |url-status=live }}</ref> On February 28, [[Federal Communications Commission]] (FCC) chairman [[Ajit Pai]] refused to review the deal, leaving the review to the [[United States Department of Justice|Department of Justice]] (DOJ).<ref>{{cite news |title=FCC chief: AT&T-Time Warner deal won't face agency's scrutiny |url=https://www.usatoday.com/story/tech/talkingtech/2017/02/27/fcc-chief-t-time-warner-deal-wont-face-agencys-scrutiny/98491670/ |newspaper=USA Today |language=en |access-date=2017-08-22 |archive-date=2017-10-11 |archive-url=https://web.archive.org/web/20171011232315/https://www.usatoday.com/story/tech/talkingtech/2017/02/27/fcc-chief-t-time-warner-deal-wont-face-agencys-scrutiny/98491670/ |url-status=live }}</ref> On March 15, 2017, the merger was approved by the [[European Commission]] (EC).<ref>{{cite news |title=European Commission Approves AT&T Acquisition of Time Warner |url=https://www.hollywoodreporter.com/news/european-commission-approves-at-t-acquisition-time-warner-986380 |newspaper=The Hollywood Reporter |language=en |access-date=2020-02-18 |archive-date=2020-07-31 |archive-url=https://web.archive.org/web/20200731041841/https://www.hollywoodreporter.com/news/european-commission-approves-at-t-acquisition-time-warner-986380 |url-status=live }}</ref> On August 22, 2017, the merger was approved by the Mexican [[Comisión Federal de Competencia]].<ref>{{cite web |url=https://seekingalpha.com/news/3291126-ts-85b-time-warner-deal-gets-mexicos-approval |title=AT&T's $85B Time Warner deal gets Mexico's approval |last=Aycock |first=Jason |work=Seeking Alpha |date=August 22, 2017 |access-date=August 22, 2017 |archive-date=June 17, 2018 |archive-url=https://web.archive.org/web/20180617093602/https://seekingalpha.com/news/3291126-ts-85b-time-warner-deal-gets-mexicos-approval |url-status=live}}</ref> On September 5, 2017, the merger was approved by the Chilean Fiscalía Nacional Económica.<ref>{{cite web |url=https://www.fiercecable.com/broadcasting/at-t-time-warner-merger-approved-conditions-by-chilean-regulators |title=AT&T-Time Warner merger approved with conditions by Chilean regulators |last=Munson |first=Ben |work=Fierce Cable |date=September 5, 2017 |access-date=November 21, 2017 |archive-date=December 1, 2017 |archive-url=https://web.archive.org/web/20171201032214/https://www.fiercecable.com/broadcasting/at-t-time-warner-merger-approved-conditions-by-chilean-regulators |url-status=dead }}</ref>

In the wake of the U.S. presidency of [[Donald Trump]], Time Warner's ownership of CNN was considered a potential source of scrutiny for the deal, as Trump had repeatedly criticized CNN for how it covered [[First presidency of Donald Trump|his administration]], and stated during his campaign that he planned to block the acquisition because of the potential impact of the resulting consolidation. Following his election, however, his transition team stated that the government planned to evaluate the deal without prejudice.<ref>{{Cite news |url=https://www.marketwatch.com/story/donald-trump-has-failed-to-kill-the-att-time-warner-deal-now-in-advanced-stage-2017-08-17 |title=Donald Trump hasn't been able to kill the AT&T-Time Warner deal, now in advanced stage |date=Aug 17, 2017 |first=Drew |last=FitzGerald |first2=Joe |last2=Flint |work=MarketWatch |access-date=November 8, 2017 |archive-date=November 9, 2017 |archive-url=https://web.archive.org/web/20171109023519/https://www.marketwatch.com/story/donald-trump-has-failed-to-kill-the-att-time-warner-deal-now-in-advanced-stage-2017-08-17 |url-status=live }}</ref><ref>{{Cite news |url=https://www.vanityfair.com/news/2017/07/donald-trump-cnn-time-warner-merger |title=Did the White House Just Use the Time Warner-AT&T Deal to Threaten CNN? |last=Levin |first=Bess |work=The Hive |date=July 6, 2017 |access-date=October 27, 2017 |language=en |archive-date=August 8, 2017 |archive-url=https://web.archive.org/web/20170808000320/https://www.vanityfair.com/news/2017/07/donald-trump-cnn-time-warner-merger |url-status=live }}</ref><ref>{{Cite magazine |url=https://variety.com/2017/tv/news/att-time-warner-merger-trump-white-house-1202491172/ |title=Senators Press Trump on White House Contacts Over AT&T-Time Warner Merger |last=Johnson |first=Ted |date=July 11, 2017 |magazine=[[Variety (magazine)|Variety]] |access-date=October 27, 2017 |language=en-US |archive-date=October 27, 2017 |archive-url=https://web.archive.org/web/20171027130452/http://variety.com/2017/tv/news/att-time-warner-merger-trump-white-house-1202491172/ |url-status=live }}</ref><ref>{{Cite news |url=https://www.hollywoodreporter.com/news/general-news/senator-concerned-trump-cnn-clash-could-doom-at-t-time-warner-deal-1019337/ |title=Senator Concerned That Trump-CNN Clash Could Doom AT&T-Time Warner Deal |work=The Hollywood Reporter |access-date=October 27, 2017 |language=en |archive-date=October 27, 2017 |archive-url=https://web.archive.org/web/20171027130911/http://www.hollywoodreporter.com/news/senator-concerned-trump-cnn-clash-could-doom-at-t-time-warner-deal-1019337 |url-status=live }}</ref><ref>{{Cite news |url=https://arstechnica.com/tech-policy/2017/07/trumps-hatred-of-cnn-is-a-wild-card-in-atttime-warner-merger/ |title=White House could use AT&T/Time Warner deal as "leverage" against CNN |work=Ars Technica |access-date=October 27, 2017 |language=en-us |archive-date=October 27, 2017 |archive-url=https://web.archive.org/web/20171027180456/https://arstechnica.com/tech-policy/2017/07/trumps-hatred-of-cnn-is-a-wild-card-in-atttime-warner-merger/ |url-status=live }}</ref>

On November 8, 2017, reports of a meeting between AT&T CEO [[Randall L. Stephenson]] and [[Makan Delrahim]], assistant Attorney General of the [[United States Department of Justice Antitrust Division|Department of Justice's Antitrust Division]], indicated that AT&T had been recommended to divest DirecTV or Turner Broadcasting, seek alternative antitrust remedies, or abandon the acquisition. Some news outlets reported that AT&T had been ordered to specifically divest CNN, but these claims were denied by both Stephenson and a government official the following day, with the latter criticizing the reports as being an effort to politicize the deal. Stephenson also disputed the relevance of CNN to the antitrust concerns surrounding the acquisition, as AT&T did not already own a national news channel.<ref>{{cite news |title=Government never tried to force CNN sale in AT&T-Time Warner deal, official says |url=https://www.cnbc.com/2017/11/09/government-never-tried-to-force-cnn-sale-in-att-time-warner-deal-official-says.html |work=[[CNBC]] |access-date=November 10, 2017 |date=November 9, 2017 |archive-date=November 10, 2017 |archive-url=https://web.archive.org/web/20171110000509/https://www.cnbc.com/2017/11/09/government-never-tried-to-force-cnn-sale-in-att-time-warner-deal-official-says.html |url-status=live}}</ref><ref>{{Cite magazine |url=https://variety.com/2017/biz/news/randall-stephenson-att-cnn-time-warner-1202611055/ |title=AT&T CEO Randall Stephenson: We're Not Selling CNN and We'll Fight for Time Warner in Court |last=Johnson |first=Ted |date=November 9, 2017 |magazine=[[Variety (magazine)|Variety]] |access-date=November 10, 2017 |archive-date=November 9, 2017 |archive-url=https://web.archive.org/web/20171109224334/http://variety.com/2017/biz/news/randall-stephenson-att-cnn-time-warner-1202611055/ |url-status=live }}</ref><ref>{{Cite news |url=https://www.latimes.com/business/hollywood/la-fi-ct-att-time-warner-20171108-story.html |title=AT&T says it will not sell CNN despite pressure from Trump's Justice Department |last=James |first=Meg |work=Los Angeles Times |access-date=November 8, 2017 |archive-date=November 8, 2017 |archive-url=https://web.archive.org/web/20171108220143/http://www.latimes.com/business/hollywood/la-fi-ct-att-time-warner-20171108-story.html |url-status=live }}</ref><ref>{{Cite magazine |url=https://variety.com/2017/biz/news/att-time-warner-merger-cnn-trump-1202610228/ |title=AT&T Can't Easily Cut a Connection With CNN or Turner (Analysis) |last=Steinberg |first=Brian |magazine=[[Variety (magazine)|Variety]] |date=November 8, 2017 |access-date=November 8, 2017 |archive-date=April 6, 2023 |archive-url=https://web.archive.org/web/20230406212056/https://variety.com/2017/biz/news/att-time-warner-merger-cnn-trump-1202610228/ |url-status=live }}</ref>

On November 20, 2017, the Department of Justice filed an antitrust lawsuit over the acquisition; Delrahim stated that the deal would "greatly harm American consumers". AT&T asserted that this suit was a "radical and inexplicable departure from decades of antitrust precedent".<ref>{{Cite news |url=https://www.bloomberg.com/news/articles/2017-11-20/at-t-is-said-to-face-u-s-antitrust-lawsuit-over-time-warner |title=AT&T Sued by U.S. Seeking to Block Merger With Time Warner |last=Foden |first=Sara |last2=McLaughlin |first2=David |last3=Moritz |first3=Scott |work=Bloomberg |date=November 20, 2017 |access-date=November 20, 2017 |archive-date=November 20, 2017 |archive-url=https://web.archive.org/web/20171120214748/https://www.bloomberg.com/news/articles/2017-11-20/at-t-is-said-to-face-u-s-antitrust-lawsuit-over-time-warner |url-status=live }}</ref> On December 22, 2017, the merger agreement deadline was extended to June 21, 2018, under a vote of confidence.<ref>{{cite magazine |url=https://variety.com/2017/biz/news/att-time-warner-extend-merger-agreement-june-21-trial-1202647896/ |title=AT&T, Time Warner Extend Merger Agreement Deadline as Trial Looms |last=Littleton |first=Cynthia |magazine=[[Variety (magazine)|Variety]] |date=December 22, 2017 |access-date=December 22, 2017 |archive-date=December 24, 2017 |archive-url=https://web.archive.org/web/20171224031351/http://variety.com/2017/biz/news/att-time-warner-extend-merger-agreement-june-21-trial-1202647896/ |url-status=live }}</ref>

On June 12, 2018, [[United States District Court for the District of Columbia|District]] Judge [[Richard J. Leon]] ruled in favor of AT&T, thus allowing the acquisition to go ahead with no conditions or remedies. Leon argued that the Department of Justice provided insufficient evidence that the proposed transaction would result in lessened competition. He also warned the government that attempting to obtain an appeal or stay on the ruling would be manifest unjust, as it would cause "certain irreparable harm to the defendants".<ref>{{Cite news |url=https://www.wsj.com/articles/at-t-time-warner-judge-fires-starting-gun-in-the-battle-against-tech-1528842076 |title=AT&T-Time Warner Judge Fires Starting Gun in the Battle Against Tech |last=Winkler |first=Elizabeth |date=June 12, 2018 |work=[[The Wall Street Journal]] |access-date=June 12, 2018 |language=en-US |issn=0099-9660 |archive-date=June 13, 2018 |archive-url=https://web.archive.org/web/20180613002328/https://www.wsj.com/articles/at-t-time-warner-judge-fires-starting-gun-in-the-battle-against-tech-1528842076 |url-status=live }}</ref><ref>{{cite news |url=https://www.washingtonpost.com/news/the-switch/wp/2018/06/12/att-time-warner-decision/?noredirect=on |title=AT&T-Time Warner merger approved, setting the stage for more consolidation across corporate America |date=June 12, 2018 |access-date=June 12, 2018 |archive-date=June 12, 2018 |archive-url=https://web.archive.org/web/20180612215938/https://www.washingtonpost.com/news/the-switch/wp/2018/06/12/att-time-warner-decision/?noredirect=on |url-status=live }}</ref><ref>{{Cite news|url=https://www.nytimes.com/2018/06/12/business/dealbook/att-time-warner-trial-antitrust-ruling.html|title=Why the AT&T-Time Warner Case Was So Closely Watched|last=Kang|first=Cecilia|date=June 12, 2018|work=The New York Times|access-date=March 18, 2019|language=en-US|issn=0362-4331|archive-date=March 21, 2019|archive-url=https://web.archive.org/web/20190321154958/https://www.nytimes.com/2018/06/12/business/dealbook/att-time-warner-trial-antitrust-ruling.html|url-status=live}}</ref><ref>{{Cite magazine |url=https://variety.com/2018/biz/news/att-time-warner-merger-approved-1202840369/ |title=AT&T-Time Warner Merger Approved |last=Johnson |first=Ted |date=June 12, 2018 |magazine=[[Variety (magazine)|Variety]] |access-date=June 12, 2018 |language=en-US |archive-date=June 12, 2018 |archive-url=https://web.archive.org/web/20180612215708/https://variety.com/2018/biz/news/att-time-warner-merger-approved-1202840369/ |url-status=live }}</ref>

On June 14, 2018, AT&T announced that it had closed the acquisition of Time Warner. Jeff Bewkes stepped down as CEO of Time Warner while retaining ties with the company as senior advisor of AT&T. [[John Stankey]], who headed the AT&T/Time Warner integration team, took over as CEO. On the next day, AT&T renamed the company as WarnerMedia (legally Warner Media, LLC).<ref name="rebrand" />

[[File:WarnerMedia.svg|thumb|right|Former logo for WarnerMedia (2018–2020)]]
On July 12, 2018, the [[United States Department of Justice|Department of Justice]] filed a notice of appeal with the [[United States Court of Appeals for the District of Columbia Circuit|D.C. Circuit]] to reverse the District Court's approval. Although the Department of Justice reportedly contemplated requesting an injunction to stop the deal from closing after the District Court's ruling, the department ultimately did not file the motion because WarnerMedia's operation as a separate group from the rest of AT&T would make the business relatively easy to unwind should the appeal be successful.<ref>{{Cite news|url=https://www.nytimes.com/2018/07/12/business/justice-department-plans-appeal-of-att-time-warner-merger-approval.html|title=AT&T-Time Warner Deal Approval Gets Justice Department Challenge|last=Kang|first=Cecilia|date=July 12, 2018|work=The New York Times|access-date=March 18, 2019|last2=Lee|first2=Edmund|language=en-US|issn=0362-4331|archive-date=March 18, 2019|archive-url=https://web.archive.org/web/20190318024327/https://www.nytimes.com/2018/07/12/business/justice-department-plans-appeal-of-att-time-warner-merger-approval.html|url-status=live}}</ref> The next day, however, AT&T CEO Randall Stephenson told CNBC that the appeal would not affect its plans to integrate WarnerMedia into AT&T, or services already launched.<ref>{{Cite news |url=https://www.cnbc.com/2018/07/13/doj-challenge-to-att-time-warner-deal-could-affect-disney-fox-comcast.html |title=DOJ challenge to AT&T-Time Warner deal could affect Disney and Comcast's bidding war for Fox, says AT&T's Stephenson |last=Shapiro |first=Ariel |date=July 13, 2018 |work=CNBC |access-date=August 6, 2018 |archive-date=July 13, 2018 |archive-url=https://web.archive.org/web/20180713152926/https://www.cnbc.com/2018/07/13/doj-challenge-to-att-time-warner-deal-could-affect-disney-fox-comcast.html |url-status=live }}</ref> In a brief filed by the Justice Department, it was argued that the decision to approve the acquisition ran "contrary to fundamental economic logic and the evidence".<ref>{{Cite news |url=https://www.theverge.com/2018/8/6/17658532/justice-department-att-time-warner-merger-appeal |title=Justice Department appeal says AT&T-Time Warner merger decision is 'contrary to fundamental economic logic' |work=The Verge |access-date=August 6, 2018 |archive-date=April 5, 2023 |archive-url=https://web.archive.org/web/20230405225926/https://www.theverge.com/2018/8/6/17658532/justice-department-att-time-warner-merger-appeal |url-status=live }}</ref><ref>{{cite news |url=https://www.washingtonpost.com/technology/2018/08/06/doj-calls-judges-approval-att-time-warner-merger-deeply-flawed/ |title=Justice Dept. calls judge's approval of AT&T-Time Warner merger 'deeply flawed' |newspaper=Washington Post |language=en |access-date=August 6, 2018 |archive-date=August 6, 2018 |archive-url=https://web.archive.org/web/20180806235414/https://www.washingtonpost.com/technology/2018/08/06/doj-calls-judges-approval-att-time-warner-merger-deeply-flawed/ |url-status=live }}</ref>

On August 7, 2018, AT&T acquired the remaining controlling stake in [[Otter Media]] from the [[Peter Chernin|Chernin Group]] for an undisclosed amount. The company operated as a division of WarnerMedia.<ref>{{Cite magazine |url=https://variety.com/2018/digital/news/att-buys-out-chernin-groups-stake-in-otter-media-1202898339/ |title=AT&T Buys Out Chernin Group's Stake in Otter Media |last=Spangler |first=Todd |date=August 7, 2018 |magazine=[[Variety (magazine)|Variety]] |access-date=August 10, 2018 |language=en-US |archive-date=October 11, 2018 |archive-url=https://web.archive.org/web/20181011004501/https://variety.com/2018/digital/news/att-buys-out-chernin-groups-stake-in-otter-media-1202898339/ |url-status=live }}</ref><ref>{{cite news |last=Salinas |first=Sara |title=AT&T buys Otter Media, carrying on with M&A strategy despite DOJ challenge |url=https://www.cnbc.com/2018/08/07/att-buys-otter-media-carries-on-with-ma-strategy-amid-doj-challenge.html |access-date=August 9, 2018 |work=CNBC |date=August 7, 2018 |archive-date=August 8, 2018 |archive-url=https://web.archive.org/web/20180808113657/https://www.cnbc.com/2018/08/07/att-buys-otter-media-carries-on-with-ma-strategy-amid-doj-challenge.html |url-status=live }}</ref>

On August 29, 2018, [[Makan Delrahim]] told [[Recode]] that if the government were to win the appeal, AT&T would only sell Turner and if they lost the appeal then the February 2019 expiration of a consent decree AT&T reached with the Justice Department shortly before the deal closed would allow AT&T to do what they want with Turner.<ref>{{cite web |url=https://www.recode.net/2018/9/1/17807096/makan-delrahim-antitrust-att-time-warner-donald-trump-kara-swisher-recode-decode |title=Full Q&A: Assistant Attorney General Makan Delrahim talks antitrust on Recode Decode |publisher=Recode |access-date=September 1, 2018 |date=September 2018 |archive-date=September 3, 2018 |archive-url=https://web.archive.org/web/20180903045733/https://www.recode.net/2018/9/1/17807096/makan-delrahim-antitrust-att-time-warner-donald-trump-kara-swisher-recode-decode |url-status=live}}</ref> The appeal was expected to have zero impact on the integration.<ref>{{Cite news |url=https://www.cnbc.com/2018/09/12/att-ceo-randall-stephenson-if-netflix-is-walmart-hbo-is-tiffany.html |title=AT&T CEO Randall Stephenson: Netflix is Walmart of video streaming |website=[[CNBC]] |date=September 12, 2018 |access-date=September 12, 2018 |archive-date=September 12, 2018 |archive-url=https://web.archive.org/web/20180912163217/https://www.cnbc.com/2018/09/12/att-ceo-randall-stephenson-if-netflix-is-walmart-hbo-is-tiffany.html |url-status=live}}</ref> By September 2018, nine state [[Attorney general|Attorneys General]] sided with AT&T on the case.<ref>{{Cite news |url=https://www.reuters.com/article/us-time-warner-m-a-at-t/nine-state-attorneys-general-back-att-in-time-warner-appeal-idUSKCN1M6373 |title=Nine state attorneys general back AT&T in Time Warner appeal |newspaper=Reuters |date=September 27, 2018 |access-date=September 27, 2018 |archive-date=September 27, 2018 |archive-url=https://web.archive.org/web/20180927154207/https://www.reuters.com/article/us-time-warner-m-a-at-t/nine-state-attorneys-general-back-att-in-time-warner-appeal-idUSKCN1M6373 |url-status=live }}</ref>

On October 10, 2018, WarnerMedia announced that it would launch an [[Over-the-top media service|over-the-top]] [[Streaming media|streaming service]] in late 2019, featuring content from its entertainment brands.<ref>{{cite news |url=https://www.latimes.com/business/hollywood/la-fi-ct-att-streaming-service-20181010-story.html |title=WarnerMedia announces new streaming service to compete with Netflix and Disney |last=Lee |first=Ryan |last2=Faughnder |first2=Wendy |work=[[Los Angeles Times]] |date=October 10, 2018 |access-date=October 13, 2018 |url-access=subscription |archive-date=October 13, 2018 |archive-url=https://web.archive.org/web/20181013020508/http://www.latimes.com/business/hollywood/la-fi-ct-att-streaming-service-20181010-story.html |url-status=live }}</ref> On December 14, 2018, Kevin Reilly, president of TNT and TBS, was promoted to chief content officer of all WarnerMedia digital and subscription activities, including HBO Max, reporting to both Turner's president David Levy and WarnerMedia's CEO John Stankey.<ref>{{Cite news |url=https://deadline.com/2018/12/kevin-reilly-head-of-content-warnermedia-new-streaming-service-chief-creative-officer-1202519927/ |title=Kevin Reilly Named Head of Content & Strategy for WarnerMedia's New Streaming Service |first=Nellie |last=Andreeva |date=December 14, 2018 |work=[[Deadline Hollywood]] |access-date=December 14, 2018 |archive-date=December 12, 2023 |archive-url=https://web.archive.org/web/20231212075518/https://deadline.com/2018/12/kevin-reilly-head-of-content-warnermedia-new-streaming-service-chief-creative-officer-1202519927/ |url-status=live }}</ref><ref>{{Cite magazine |title=Kevin Reilly to Run Content for WarnerMedia Streaming Service |first=Natalie |last=Jarvey |date=December 14, 2018 |magazine=[[The Hollywood Reporter]] |url=https://www.hollywoodreporter.com/news/general-news/kevin-reilly-run-content-warnermedia-streaming-service-1169383/ |access-date=December 14, 2018|archive-date=December 14, 2018|archive-url=https://web.archive.org/web/20181214215702/https://www.hollywoodreporter.com/news/kevin-reilly-run-content-warnermedia-streaming-service-1169383 |url-status=live}}</ref><ref>{{Cite magazine |url=https://variety.com/2018/digital/news/kevin-reilly-warner-streaming-1203089620/ |title=Kevin Reilly Named Content Chief for WarnerMedia Streaming Service |first=Daniel |last=Holloway |date=December 14, 2018 |magazine=[[Variety (magazine)|Variety]] |access-date=December 14, 2018 |archive-date=April 5, 2023 |archive-url=https://web.archive.org/web/20230405230157/https://variety.com/2018/digital/news/kevin-reilly-warner-streaming-1203089620/ |url-status=live }}</ref> The [[United States Court of Appeals for the District of Columbia Circuit|U.S. Court of Appeals in Washington D.C.]] unanimously upheld the lower court's ruling in favor of AT&T on February 26, 2019, stating it did not believe the merger with Time Warner would have a negative impact on either consumers or competition.<ref>{{Cite web |url=https://www.cbsnews.com/news/at-t-time-warner-merger-approved-by-u-s-appeals-court-81-billion-takeover-wont-harm-competition/ |title=U.S. appeals court OKs $81 billion merger of AT&T and Time Warner |website=[[CBS News]] |date=February 27, 2019 |access-date=March 4, 2019 |archive-date=March 31, 2019 |archive-url=https://web.archive.org/web/20190331013453/https://www.cbsnews.com/news/at-t-time-warner-merger-approved-by-u-s-appeals-court-81-billion-takeover-wont-harm-competition/ |url-status=live }}</ref> The Justice Department declined to appeal the decision further,<ref>{{cite web|url=https://www.reuters.com/article/us-timewarner-m-a-at-t/u-s-justice-department-will-not-appeal-att-time-warner-merger-after-court-loss-idUSKCN1QF1XB|title=U.S. Justice Department will not appeal AT&T, Time Warner merger after court loss|website=[[Reuters]]|date=February 26, 2019|access-date=March 19, 2021|archive-date=March 19, 2021|archive-url=https://web.archive.org/web/20210319030307/https://www.reuters.com/article/us-timewarner-m-a-at-t/u-s-justice-department-will-not-appeal-att-time-warner-merger-after-court-loss-idUSKCN1QF1XB|url-status=live}}</ref> thus allowing the consent decree to expire.

On March 4, 2019, AT&T announced a major reorganization of its broadcasting assets to effectively break-up the Turner Broadcasting System. Its assets were dispersed across two new camps, WarnerMedia Entertainment and WarnerMedia News & Sports. WarnerMedia Entertainment would consist of HBO, TBS, TNT, TruTV, and the direct-to-consumer video service HBO Max. WarnerMedia News & Sports would have CNN Worldwide, Turner Sports (later known briefly as Warner Bros. Discovery Sports, and TNT Sports from 2023), and the [[AT&T SportsNet]] regional networks led by CNN president [[Jeff Zucker]]. Cartoon Network, Adult Swim, Boomerang, their respective production studios, as well as Turner Classic Movies and Otter Media would be moved directly under Warner Bros. [[Gerhard Zeiler]] moved from being president of Turner International to [[chief revenue officer]] of WarnerMedia, and would oversee the consolidated advertising and affiliation sales.<ref name="cnbc-wmreorganize">{{cite news |last=Feiner |first=Lauren |title=WarnerMedia reorganizes its leadership team after AT&T acquisition |url=https://www.cnbc.com/2019/03/04/warnermedia-reorganizes-its-leadership-team-after-att-acquisition.html |access-date=March 4, 2019 |work=CNBC |date=March 4, 2019 |archive-date=March 4, 2019 |archive-url=https://web.archive.org/web/20190304182211/https://www.cnbc.com/2019/03/04/warnermedia-reorganizes-its-leadership-team-after-att-acquisition.html |url-status=live }}</ref> David Levy and HBO chief [[Richard Plepler]] stepped down as part of the reorganization, which was described by ''[[The Wall Street Journal]]'' as being intended to end "fiefdoms".<ref>{{Cite news|url=https://www.wsj.com/articles/at-t-readying-overhaul-of-warnermedia-11551483138|title=AT&T to HBO, Turner: No More Fiefdoms|last=Flint|first=Joe|date=March 2, 2019|work=[[The Wall Street Journal]]|access-date=March 18, 2019|language=en-US|issn=0099-9660|archive-date=March 26, 2023|archive-url=https://web.archive.org/web/20230326024730/https://www.wsj.com/articles/at-t-readying-overhaul-of-warnermedia-11551483138|url-status=live}}</ref> Turner Podcast Network, formed within Turner Content Distribution in 2017,<ref>{{cite magazine |last=Rubin |first=Rebecca |title=TV News Roundup: Zoe Saldana to Develop Adaptation of Israeli Unscripted Series 'Mothers' |url=https://variety.com/2017/tv/news/authentic-entertainment-cinestar-productions-new-series-1202455667/ |access-date=July 11, 2019 |magazine=[[Variety (magazine)|Variety]] |date=June 6, 2017 |language=en |archive-date=September 10, 2017 |archive-url=https://web.archive.org/web/20170910200527/http://variety.com/2017/tv/news/authentic-entertainment-cinestar-productions-new-series-1202455667/ |url-status=live }}</ref> became WarnerMedia Podcast Network by May 2019.<ref>{{cite news |last=Moss |first=E. B. |title=Corralling Conan to CNN: Building the WarnerMedia Podcast Network |url=https://www.mediavillage.com/article/corralling-conan-to-cnn-a-podcast-on-building-the-warnermedia-podcast-network/ |access-date=July 11, 2019 |work=MediaVillage |date=May 2, 2019 |language=en |archive-date=July 11, 2019 |archive-url=https://web.archive.org/web/20190711174145/https://www.mediavillage.com/article/corralling-conan-to-cnn-a-podcast-on-building-the-warnermedia-podcast-network/ |url-status=live }}</ref>

In May 2019, [[Kevin Reilly (executive)|Kevin Reilly]] signed a four-year extension of his contract with the company, which additionally made him president of [[TruTV]] (alongside the other three WarnerMedia Entertainment basic cable networks), and chief content officer of direct-to-consumer for the new streaming service.<ref>{{cite magazine |last=Littleton |first=Cynthia |title=Kevin Reilly Signs New Deal With WarnerMedia, Takes Over TruTV |url=https://variety.com/2019/tv/news/kevin-reilly-warnermedia-contract-cable-1203216800/ |access-date=July 10, 2019 |magazine=[[Variety (magazine)|Variety]] |date=May 16, 2019 |language=en |archive-date=April 6, 2023 |archive-url=https://web.archive.org/web/20230406051424/https://variety.com/2019/tv/news/kevin-reilly-warnermedia-contract-cable-1203216800/ |url-status=live }}</ref> On May 31, 2019, Otter Media was transferred from Warner Bros. to WarnerMedia Entertainment, and Otter's COO Andy Forssell became the executive vice president and general manager of the streaming service, while still reporting to Otter CEO Tony Goncalves — who would lead development.<ref name="vty0">{{cite magazine |last=Spangler |first=Todd |title=WarnerMedia Reorg Gives Otter Media's Tony Goncalves Oversight of Streaming Service Development |url=https://variety.com/2019/digital/news/warnermedia-streaming-unit-otter-media-tony-goncalves-1203230363/ |access-date=July 9, 2019 |magazine=[[Variety (magazine)|Variety]] |date=May 31, 2019 |language=en |archive-date=July 10, 2019 |archive-url=https://web.archive.org/web/20190710012811/https://variety.com/2019/digital/news/warnermedia-streaming-unit-otter-media-tony-goncalves-1203230363/ |url-status=live }}</ref> On July 9, 2019, it was announced that the new streaming service would be known as [[HBO Max]], which was launched on May 27, 2020.<ref>{{cite magazine |last=Spangler |first=Todd |title='Friends' to Leave Netflix for WarnerMedia's HBO Max Streaming Service in 2020 |url=https://variety.com/2019/digital/news/warnermedia-hbo-max-friends-exclusive-streaming-1203262335/ |access-date=July 9, 2019 |magazine=[[Variety (magazine)|Variety]] |date=July 9, 2019 |archive-date=July 9, 2019 |archive-url=https://web.archive.org/web/20190709173957/https://variety.com/2019/digital/news/warnermedia-hbo-max-friends-exclusive-streaming-1203262335/ |url-status=live}}</ref><ref>{{cite news |last=Roberts |first=Samuel |title=HBO Max: price, free trial, movies, the Snyder Cut and more explained |url=https://www.techradar.com/news/hbo-max-price-free-trial-movies-the-snyder-cut-and-more-explained |access-date=May 28, 2020 |website=techradar.com |date=May 27, 2020 |archive-date=May 29, 2020 |archive-url=https://web.archive.org/web/20200529093553/https://www.techradar.com/news/hbo-max-price-free-trial-movies-the-snyder-cut-and-more-explained |url-status=live}}</ref>

In September 2019, Stankey was promoted to AT&T president and chief operating officer. By April 1, 2020, former Hulu chief Jason Kilar took over as WarnerMedia CEO.<ref>{{cite magazine |last=Littleton |first=Cynthia |title=Former Hulu Chief Jason Kilar Named CEO of WarnerMedia |url=https://variety.com/2020/biz/news/warnermedia-jason-kilar-john-stankey-ceo-1203551551/ |access-date=April 24, 2020 |magazine=[[Variety (magazine)|Variety]] |date=April 1, 2020 |archive-date=April 6, 2023 |archive-url=https://web.archive.org/web/20230406115421/https://variety.com/2020/biz/news/warnermedia-jason-kilar-john-stankey-ceo-1203551551/ |url-status=live}}</ref>

In August 2020, the company had a significant restructuring laying off around 800 employees including around 600 from Warner and 150+ from HBO.<ref>{{cite web |url=https://www.thestreet.com/investing/hbo-max-prepares-for-hundreds-of-layoffs-report|title=AT&T WarnerMedia Is Said to Cut Hundreds of Jobs|date=August 10, 2020|access-date=August 13, 2020 |website=thestreet.com |last=Owusu |first=Tony |archive-date=August 12, 2020 |archive-url=https://web.archive.org/web/20200812205825/https://www.thestreet.com/investing/hbo-max-prepares-for-hundreds-of-layoffs-report |url-status=live}}</ref> At WarnerMedia's Atlanta base, marketing and cable operations teams were particularly affected.<ref>{{cite magazine |last=Siegel |first=Tatiana |title=WarnerMedia Begins Massive Round of Layoffs |url=https://www.hollywoodreporter.com/business/business-news/warnermedia-begins-massive-round-layoffs-1287678/ |access-date=August 20, 2020 |magazine=[[The Hollywood Reporter]] |date=August 10, 2020 |archive-date=August 28, 2020 |archive-url=https://web.archive.org/web/20200828123635/https://www.hollywoodreporter.com/news/warnermedia-begins-massive-round-layoffs-1287678 |url-status=live}}</ref>

On August 10, 2020, WarnerMedia restructured several of its units in a major corporate revamp that resulted in TBS, TNT and TruTV being brought back under the same umbrella as Cartoon Network/Adult Swim, Boomerang and TCM, under a consolidation of WarnerMedia Entertainment and Warner Bros. Entertainment's respective assets that formed the combined WarnerMedia Studios & Networks Group unit. Casey Bloys—who has been with WarnerMedia since 2004 (as director of development at HBO Independent Productions), and was eventually elevated to President of Programming at HBO and Cinemax in May 2016—added oversight of WarnerMedia's basic cable networks and HBO Max to his purview.<ref name="deadline-wmlayoffs"/><ref name="thr-wmlayoffs"/><ref>{{cite web|title=WarnerMedia Begins Massive Round of Layoffs|url=https://www.hollywoodreporter.com/business/business-news/warnermedia-begins-massive-round-layoffs-1287678/|author=Tatiana Siegel|periodical=The Hollywood Reporter|publisher=Billboard-Hollywood Reporter Media Group|date=August 10, 2020|access-date=August 31, 2020|archive-date=August 28, 2020|archive-url=https://web.archive.org/web/20200828123635/https://www.hollywoodreporter.com/news/warnermedia-begins-massive-round-layoffs-1287678|url-status=live}}</ref> In October 2020, it was announced that the company was planning to execute over a 1,000 job cuts in order to reduce costs. WarnerMedia plans to reduce costs by at least 20% in order to deal with the profit shortage caused by the [[COVID-19 pandemic]].<ref>{{cite news|url=https://www.wsj.com/articles/warnermedia-plans-thousands-of-job-cuts-in-restructuring-11602182057?mod=business_lead_pos1|title=WarnerMedia Plans Thousands of Job Cuts in Restructuring|work=[[The Wall Street Journal]]|last=FitzGerald|first=Drew|last2=Flint|first2=Joe|last3=Mullin|first3=Benjamin|date=October 8, 2020|access-date=October 9, 2020|archive-date=October 9, 2020|archive-url=https://web.archive.org/web/20201009001211/https://www.wsj.com/articles/warnermedia-plans-thousands-of-job-cuts-in-restructuring-11602182057?mod=business_lead_pos1|url-status=live}}</ref>

As a result of planned cost cutting programs, the sale of [[Warner Bros. Interactive Entertainment]] was proposed, but ultimately abandoned due to COVID-19 related growth in the Gaming industry, as well as a positive reception to upcoming [[DC Comics]], [[Lego]] ''[[Star Wars]],'' and ''[[Harry Potter]]'' titles from fans and critics.<ref>{{Cite news |last=Ahmed |first=Nabila |last2=Moritz |first2=Scott |date=September 1, 2020 |title=AT&T to Scrap Sale of Warner Bros. Video-Game Unit |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2020-09-01/at-t-is-said-to-scrap-sale-of-warner-bros-video-game-unit |access-date=October 9, 2020 |archive-url=https://web.archive.org/web/20200904021610/https://www.bloomberg.com/news/articles/2020-09-01/at-t-is-said-to-scrap-sale-of-warner-bros-video-game-unit |archive-date=September 4, 2020 |url-status=live}}</ref>

[[Crunchyroll]] was sold to [[Sony]]'s [[Funimation]] for {{USD|1.175 billion}} in December 2020, with the acquisition closing in August 2021.<ref>{{cite web |url=https://www.polygon.com/2020/12/9/21547657/sonys-funimation-acquires-crunchyroll-deal-price-watching-anime |title=Sony's Funimation acquires anime streaming service Crunchyroll for $1.175 billion |first=D.M. |last=Moore |date=December 9, 2020 |access-date=December 9, 2020 |work=[[Polygon (website)|Polygon]] |archive-date=February 2, 2021 |archive-url=https://web.archive.org/web/20210202182322/https://www.polygon.com/2020/12/9/21547657/sonys-funimation-acquires-crunchyroll-deal-price-watching-anime |url-status=live}}</ref><ref>{{cite web|last=Mateo|first=Alex|date=August 9, 2021|title=Sony's Funimation Global Group Completes Acquisition of Crunchyroll from AT&T|url=https://www.animenewsnetwork.com/news/2021-08-09/sony-funimation-global-group-completes-acquisition-of-crunchyroll-from-at-t/.176073|access-date=August 9, 2021|website=[[Anime News Network]]|archive-date=August 9, 2021|archive-url=https://web.archive.org/web/20210809205048/https://www.animenewsnetwork.com/news/2021-08-09/sony-funimation-global-group-completes-acquisition-of-crunchyroll-from-at-t/.176073|url-status=live}}</ref>

On December 21, 2020, WarnerMedia acquired You.i TV, an [[Ottawa]], [[Ontario]]-based developer of tools for building cross-platform video streaming apps. The company's products have been the basis of various WarnerMedia streaming platforms, including AT&T TV Now and the Turner channels' apps, and would be used as part of international expansion of HBO Max.<ref>{{cite web|url=https://www.bloomberg.com/press-releases/2020-12-21/warnermedia-acquires-you-i-tv|title=WarnerMedia Acquires You.i TV|publisher=Bloomberg|date=December 21, 2020|access-date=December 21, 2020|archive-date=October 28, 2021|archive-url=https://web.archive.org/web/20211028204845/https://www.bloomberg.com/press-releases/2020-12-21/warnermedia-acquires-you-i-tv|url-status=live}}</ref><ref>{{cite web|date=December 22, 2020|title=WarnerMedia buys You.i TV ahead of HBO Max global expansion|url=https://www.fiercevideo.com/tech/warnermedia-buys-you-i-tv-ahead-hbo-max-global-expansion|url-status=dead|archive-url=https://web.archive.org/web/20201222152923/https://www.fiercevideo.com/tech/warnermedia-buys-you-i-tv-ahead-hbo-max-global-expansion|archive-date=December 22, 2020|access-date=December 22, 2020|website=Fierce Video|publisher=}}</ref>

=== Spin-off from AT&T and merger with Discovery, Inc. (2021–2022) ===
{{See also|Merger of Discovery, Inc. and WarnerMedia}}
On May 16, 2021, it was reported that AT&T was in talks with [[Discovery, Inc.]]—which primarily operated television channels and platforms devoted to [[Factual television|non-fiction]] and unscripted content—for it to merge with WarnerMedia, forming a publicly traded company that would be divided between its shareholders.<ref>{{Cite web|last=Sherman|first=Alex|date=May 16, 2021|title=AT&T in advanced talks to merge WarnerMedia with Discovery, deal expected as soon as tomorrow|url=https://www.cnbc.com/2021/05/16/att-in-advanced-talks-to-merge-warnermedia-with-discovery.html|access-date=May 16, 2021|website=CNBC|language=en|archive-date=May 31, 2022|archive-url=https://web.archive.org/web/20220531031836/https://www.cnbc.com/2021/05/16/att-in-advanced-talks-to-merge-warnermedia-with-discovery.html|url-status=live}}</ref> The proposed spin-off and merger was officially announced the next day, which is to be structured as a [[Reverse Morris Trust]]. AT&T shareholders would receive a 71% stake in the merged company, which is expected to be led by Discovery's current CEO [[David Zaslav]].<ref name=":1">{{cite web|last=Meredith|first=Steve|last2=Kovach|first2=Sam|date=May 17, 2021|title=AT&T announces $43 billion deal to merge WarnerMedia with Discovery|url=https://www.cnbc.com/2021/05/17/att-to-combine-warnermedia-and-discovery-assets-to-create-a-new-standalone-company.html|access-date=May 17, 2021|work=CNBC|archive-date=January 20, 2022|archive-url=https://web.archive.org/web/20220120133629/https://www.cnbc.com/2021/05/17/att-to-combine-warnermedia-and-discovery-assets-to-create-a-new-standalone-company.html|url-status=live}}</ref><ref name=":2">{{cite web|last=Hayes|first=Dade|date=May 17, 2021|title=David Zaslav And John Stankey Outline Plans For Merging Discovery And WarnerMedia, Addressing Future Of Jason Kilar, CNN, Streaming|url=https://deadline.com/2021/05/discovery-warnermedia-att-merger-streaming-david-zaslav-1234758225/|access-date=May 17, 2021|work=Deadline Hollywood|archive-date=May 17, 2021|archive-url=https://web.archive.org/web/20210517131711/https://deadline.com/2021/05/discovery-warnermedia-att-merger-streaming-david-zaslav-1234758225/|url-status=live}}</ref>

[[Electronic Arts]], who were a bidder in the proposed sale of Warner Bros. Interactive Entertainment, purchased the mobile gaming studio Playdemic from WBIE for {{USD|1.4 billion}} in June 2021.<ref>{{cite web | url = https://deadline.com/2021/06/att-warnermedia-playdemic-mobile-game-studio-electronic-arts-1234780023/ | title = AT&T, WarnerMedia Sell Playdemic Mobile Game Studio To Electronic Arts For $1.4 Billion | first = Jill | last = Goldsmith | date = June 23, 2021 | accessdate = June 23, 2021 | work = [[Deadline Hollywood]] | archive-date = March 31, 2022 | archive-url = https://web.archive.org/web/20220331075838/https://deadline.com/2021/06/att-warnermedia-playdemic-mobile-game-studio-electronic-arts-1234780023/ | url-status = live }}</ref>

In September 2021, WarnerMedia sold [[TMZ]] to [[Fox Corporation]] in a deal worth about $50 million, with TMZ being operated under the [[Fox Entertainment]] division.<ref>{{cite web |last=Hayes |first=Dade |title=Fox Entertainment Closes Acquisition Of TMZ From WarnerMedia |url=https://www.yahoo.com/entertainment/fox-entertainment-closes-acquisition-tmz-201509654.html |website=[[Yahoo!]] |access-date=September 13, 2021 |date=September 13, 2021 |archive-date=March 6, 2023 |archive-url=https://web.archive.org/web/20230306024956/https://www.yahoo.com/entertainment/fox-entertainment-closes-acquisition-tmz-201509654.html |url-status=live }}</ref>

In November 2021, Discovery and WarnerMedia discussed a plan to combine the two streaming services, [[HBO Max]] and [[Discovery+]], into one streaming service in two phases: an initial phase that allows for quick bundling of the services and a second phase that allows for a common service on one tech platform.<ref>{{cite web|url=https://www.fiercevideo.com/video/discovery-hbo-max-may-bundle-combining-after-merger|title=Discovery+, HBO Max may bundle before combining after merger|last=Bunson|first=Ben|work=FierceVideo|date=November 3, 2021|access-date=November 11, 2021|archive-date=November 11, 2021|archive-url=https://web.archive.org/web/20211111192746/https://www.fiercevideo.com/video/discovery-hbo-max-may-bundle-combining-after-merger|url-status=dead}}</ref> In the same month, it was announced that Discovery would rename itself Warner Bros. and reclassify and convert its stock into stock of WBD.<ref>{{Cite web|last=Goldsmith|first=Jill|date=November 18, 2021|title=Discovery, AT&T's WarnerMedia Talks Collapsed In April Before They Clinched May Deal, According To Massive SEC Filing|url=https://deadline.com/2021/11/discovery-att-warnermedia-1234877193/|access-date=November 18, 2021|work=Deadline Hollywood|archive-date=March 6, 2023|archive-url=https://web.archive.org/web/20230306024958/https://deadline.com/2021/11/discovery-att-warnermedia-1234877193/|url-status=live}}</ref>

On December 22, 2021, it was announced that the deal was approved by the [[European Commission]] and it was scheduled to be completed on April 8, 2022, subject to approval by Discovery shareholders and additional closing conditions.<ref>{{cite web|title=Discovery-WarnerMedia Merger Gets European Union Approval|url=https://www.hollywoodreporter.com/business/business-news/discovery-warnermedia-merger-gets-european-union-approval-1235066577/|work=[[The Hollywood Reporter]]|last=Vlessing|first=Etan|date=December 22, 2021|access-date=December 22, 2021|archive-date=May 26, 2022|archive-url=https://web.archive.org/web/20220526171447/https://www.hollywoodreporter.com/business/business-news/discovery-warnermedia-merger-gets-european-union-approval-1235066577/|url-status=live}}</ref><ref>{{cite news|title=European Commission grants approval for Discovery acquisition of WarnerMedia|url=https://www.reuters.com/business/media-telecom/european-commission-grants-approval-discovery-acquisition-warnermedia-2021-12-22/|work=[[Reuters]]|date=December 22, 2021|access-date=December 22, 2021|archive-date=May 26, 2022|archive-url=https://web.archive.org/web/20220526082143/https://www.reuters.com/business/media-telecom/european-commission-grants-approval-discovery-acquisition-warnermedia-2021-12-22/|url-status=live}}</ref>

On January 5, 2022, ''[[The Wall Street Journal]]'' reported that WarnerMedia and ViacomCBS (now known as [[Paramount Global]]) were exploring a possible sale of either a majority stake or all of [[The CW]], and that [[Nexstar Media Group]] was considered a leading bidder.<ref>{{cite web|url=https://www.wsj.com/articles/warnermedia-and-viacomcbs-are-exploring-possible-sale-of-cw-network-11641436892|title=WarnerMedia and ViacomCBS Are Exploring Possible Sale of CW Network|last=Flint|first=Joe|work=The Wall Street Journal|date=January 5, 2022|access-date=January 6, 2022|archive-date=January 6, 2022|archive-url=https://web.archive.org/web/20220106024412/https://www.wsj.com/articles/warnermedia-and-viacomcbs-are-exploring-possible-sale-of-cw-network-11641436892|url-status=live}}</ref> The reports indicated that WarnerMedia and ViacomCBS could include a contractual commitment that would require any new owner to buy new programming from those companies, allowing them to reap some continual revenue through the network.<ref>{{cite web|url=https://www.cbr.com/the-cw-sale-may-kill-original-programming-report/|title=REPORT: The CW's Potential Sale May Kill Its Original Programming|last=Farley|first=Ashley|work=Comic Book Resources|date=January 13, 2022|access-date=January 14, 2022|archive-date=January 14, 2022|archive-url=https://web.archive.org/web/20220114161425/https://www.cbr.com/the-cw-sale-may-kill-original-programming-report/|url-status=live}}</ref> The network's then-president and CEO [[Mark Pedowitz]] at the time confirmed talks of a potential sale in a memo to CW staffers, but added that "It's too early to speculate what might happen."<ref>{{cite web|last=Goldberg|first=Lesley|last2=Weprin|first2=Alex|date=January 6, 2022|title=ViacomCBS and WarnerMedia Exploring Sale of The CW|url=https://www.hollywoodreporter.com/business/business-news/the-cw-for-sale-warnermedia-viacomcbs-1235070616/|access-date=January 9, 2022|work=The Hollywood Reporter|archive-date=January 6, 2022|archive-url=https://web.archive.org/web/20220106130003/https://www.hollywoodreporter.com/business/business-news/the-cw-for-sale-warnermedia-viacomcbs-1235070616/|url-status=live}}</ref><ref>{{cite web|url=https://deadline.com/2022/01/the-cw-sale-warnermedia-viacomcbs-nexstar-1234905157|title=The CW CEO Mark Pedowitz Confirms WarnerMedia & ViacomCBS Exploring "Strategic Opportunities" As Majority Stake In Network Is Shopped With Nexstar Among Suitors" As Majority Stake In Network Is Shopped With Nexstar Among Suitors – Update|last=Andreeva|first=Nellie|work=Deadline Hollywood|date=January 6, 2022|access-date=January 6, 2022|archive-date=January 6, 2022|archive-url=https://web.archive.org/web/20220106063426/https://deadline.com/2022/01/the-cw-sale-warnermedia-viacomcbs-nexstar-1234905157/|url-status=dead}}</ref>

On January 26, 2022, it was reported that the merger between WarnerMedia and Discovery, Inc. was expected to close sometime during the second quarter of 2022.<ref>{{cite web|url=https://www.cordcuttersnews.com/warnermedia-and-discovery-merger-now-expected-to-close-this-spring/|title=WarnerMedia and Discovery Merger Now Expected to Close This Spring|last=Hepburn|first=Tmera|work=Cord Cutters News|date=January 26, 2022|access-date=January 27, 2022|archive-date=January 26, 2022|archive-url=https://web.archive.org/web/20220126211826/https://www.cordcuttersnews.com/warnermedia-and-discovery-merger-now-expected-to-close-this-spring/|url-status=live}}</ref><ref>{{cite web|url=https://www.c21media.net/news/warnermedia-discovery-merger-expected-to-close-in-q2-says-atts-stankey/|title=WarnerMedia-Discovery merger expected to close in Q2, says AT&T's Stankey|last=Pinto|first=Jordan|work=C21 Media|date=January 27, 2022|access-date=January 27, 2022|archive-date=January 27, 2022|archive-url=https://web.archive.org/web/20220127082812/https://www.c21media.net/news/warnermedia-discovery-merger-expected-to-close-in-q2-says-atts-stankey/|url-status=live}}</ref>

On February 1, 2022, it was reported that AT&T was going to spin off WarnerMedia in a $43 billion deal.<ref>{{cite web|url=https://variety.com/2022/biz/news/att-spin-off-warnermedia-43-billion-deal-1235168480/|title=AT&T Sets Plan to Spin Off WarnerMedia in $43 Billion Deal|last=Spangler|first=Todd|work=Variety|date=February 1, 2022|access-date=February 1, 2022|archive-date=February 1, 2022|archive-url=https://web.archive.org/web/20220201120629/https://variety.com/2022/biz/news/att-spin-off-warnermedia-43-billion-deal-1235168480/|url-status=live}}</ref><ref>{{cite web|url=https://www.hollywoodreporter.com/business/business-news/att-warnermedia-spin-off-discovery-merger-1235084978/|title=AT&T Picks WarnerMedia Spin-Off as Structure for Key Step in Discovery Merger|last=Szalai|first=George|work=The Hollywood Reporter|date=February 1, 2022|access-date=February 1, 2022|archive-date=February 1, 2022|archive-url=https://web.archive.org/web/20220201120404/https://www.hollywoodreporter.com/business/business-news/att-warnermedia-spin-off-discovery-merger-1235084978/|url-status=live}}</ref> Also on the same month, it was announced that the WarnerMedia and Discovery merger was approved by the Brazilian antitrust regulator [[Administrative Council for Economic Defense|Cade]].<ref>{{cite web|url=https://noticiasdatv.uol.com.br/noticia/mercado/cade-surpreende-e-aprova-fusao-discoverywarnermedia-sem-restricoes-no-brasil-74806|title=Cade surpreende e aprova fusão Discovery/WarnerMedia sem restrições|website=Notícias da TV|date=February 7, 2022|language=pt|access-date=February 8, 2022|archive-date=February 9, 2022|archive-url=https://web.archive.org/web/20220209193522/https://noticiasdatv.uol.com.br/noticia/mercado/cade-surpreende-e-aprova-fusao-discoverywarnermedia-sem-restricoes-no-brasil-74806|url-status=live}}</ref>

On February 9, 2022, it was announced that the deal was approved by the [[United States Department of Justice]].<ref>{{cite web|title=Discovery-WarnerMedia Merger Gets U.S. Antitrust Clearance|url=https://www.hollywoodreporter.com/business/business-news/discovery-warnermedia-merger-gets-u-s-antitrust-clearance-1235089790/|work=[[The Hollywood Reporter]]|last=Szalai|first=Georg|date=February 9, 2022|access-date=February 9, 2022|archive-date=April 16, 2022|archive-url=https://web.archive.org/web/20220416065142/https://www.hollywoodreporter.com/business/business-news/discovery-warnermedia-merger-gets-u-s-antitrust-clearance-1235089790/|url-status=live}}</ref> A day later, it was announced that Discovery's shareholders would board on meeting on March 11 to vote on the WarnerMedia merger.<ref>{{cite web|last=Goldsmith|first=Jill|date=February 10, 2022|title=Discovery Sets March 11 For Shareholder Vote On WarnerMedia Merger|url=https://deadline.com/2022/02/discovery-warnermedia-shareholder-vote-merger-1234931163/|access-date=February 10, 2022|work=Deadline Hollywood|archive-date=May 26, 2022|archive-url=https://web.archive.org/web/20220526082143/https://deadline.com/2022/02/discovery-warnermedia-shareholder-vote-merger-1234931163/|url-status=live}}</ref> The deal was approved by Discovery shareholders on the same date.<ref>{{cite web|url=https://variety.com/2022/tv/news/discovery-warnermedia-merger-approvbed-investor-vote-1235201881/|title=Discovery Shareholders Approve $43 Billion WarnerMedia Merger|work=Variety|date=11 March 2022|access-date=March 11, 2022|archive-date=26 May 2022|archive-url=https://web.archive.org/web/20220526195259/https://variety.com/2022/tv/news/discovery-warnermedia-merger-approvbed-investor-vote-1235201881/|url-status=live}}</ref>

On February 23, 2022, it was announced that the WarnerMedia-Discovery merger would close on April 8.<ref>{{cite web|last=Maas|first=Jennifer|date=February 23, 2022|title=AT&T, Discovery Prepare for Mid-April Close of WarnerMedia Deal|url=https://variety.com/2022/tv/news/warnermedia-discovery-april-close-att-deal-1235188683/|access-date=February 27, 2022|work=Variety|archive-date=March 6, 2023|archive-url=https://web.archive.org/web/20230306025012/https://variety.com/2022/tv/news/warnermedia-discovery-april-close-att-deal-1235188683/|url-status=live}}</ref> On March 25, it was announced that AT&T would spin off WarnerMedia on April 8, marking AT&T's official exit from the entertainment business.<ref>{{cite web|date=March 25, 2022|title=AT&T Announces Details for Completion of WM Spin-Off|url=https://about.att.com/story/2022/details-for-completion-of-warnermedia-spinoff.html|access-date=March 26, 2022|work=[[AT&T]]|archive-date=March 25, 2022|archive-url=https://web.archive.org/web/20220325234650/https://about.att.com/story/2022/details-for-completion-of-warnermedia-spinoff.html|url-status=live}}</ref>

On April 5, it was announced that Kilar; [[Ann Sarnoff]], Chair and CEO of WarnerMedia Studios and Networks Group; as well as Andy Forssell, executive vice president and general manager of HBO Max; were stepping down from their roles.<ref>{{Cite web|last=Hayes|first=Dade|last2=D'Alessandro|first2=Anthony|date=April 5, 2022|title=Ann Sarnoff Departing As WarnerMedia Studios And Networks Chief|url=https://deadline.com/2022/04/ann-sarnoff-departs-warnermedia-studios-networks-discovery-1234995143/|work=Deadline Hollywood|access-date=April 6, 2022|archive-date=June 6, 2023|archive-url=https://web.archive.org/web/20230606172313/https://deadline.com/2022/04/ann-sarnoff-departs-warnermedia-studios-networks-discovery-1234995143/|url-status=live}}</ref> The next day, [[chief financial officer]] Jennifer Biry, [[chief human resources officer]] Jim Cummings, [[chief revenue officer]] Tony Goncalves, communications and [[Chief diversity officer|chief inclusion officer]] [[Christy Haubegger]], WarnerMedia [[general counsel]] Jim Meza and [[chief technology officer]] Richard Tom were confirmed to be stepping down.<ref>{{Cite web|last=Maas|first=Jennifer|date=April 6, 2022|title=Discovery Makes Big WarnerMedia Executive Suite Changes Ahead of Merger; Toby Emmerich and Gerhard Zeiler to Remain|url=https://variety.com/2022/tv/news/discovery-warnermedia-executives-fired-1235226592/|work=Variety|access-date=April 7, 2022|archive-date=March 29, 2023|archive-url=https://web.archive.org/web/20230329160431/https://variety.com/2022/tv/news/discovery-warnermedia-executives-fired-1235226592/|url-status=live}}</ref> The merger was completed on April 8.<ref>{{cite web|last=Koblin|first=John|date=April 8, 2022|title=Hollywood Gets a New Giant|url=https://www.nytimes.com/2022/04/08/business/media/discovery-warner-media.html|work=The New York Times|access-date=April 8, 2022|archive-date=October 13, 2023|archive-url=https://web.archive.org/web/20231013195439/https://www.nytimes.com/2022/04/08/business/media/discovery-warner-media.html|url-status=live}}</ref>

After its merger with Discovery, Inc. to become [[Warner Bros. Discovery]] (WBD), WarnerMedia became defunct on April 8 but its corporate name is still used, such as on products of WBD's subsidiaries like on the DVDs of [[Cartoon Network]] and [[Adult Swim]] shows and movies.

== Units ==
WarnerMedia's businesses operated under the following five primary divisions:
* '''WarnerMedia Studios & Networks''', encompassed the company's television series and motion picture development, production and programming. The division's primary unit was the [[Warner Bros.]]' [[Warner Bros. Pictures|film]], [[Warner Bros. Television Studios|television]] and [[Warner Bros. Animation|animation]] studio – which also contained [[Warner Bros. Interactive Entertainment]] and [[Warner Bros. Home Entertainment]], the comic book company [[DC Comics|DC Entertainment]], and youth or specialty-centric cable networks ([[Cartoon Network]], [[Adult Swim]], [[Boomerang (TV network)|Boomerang]] and [[Turner Classic Movies]]). Other assets included [[HBO]] (as well as its sister channel [[Cinemax]]), the remaining former [[Turner Broadcasting System|Turner]] networks ([[TBS (American TV channel)|TBS]], [[TNT (American TV network)|TNT]] and [[TruTV]]), and with [[Paramount Global]], a 50% stake in [[The CW|The CW Television Network]].<ref name="auto">{{Cite web|url=https://pressroom.warnermediagroup.com/us/media-release/warnermedia-organization-update|title=WarnerMedia Organization Update|date=August 7, 2020|access-date=August 8, 2020|archive-date=August 10, 2020|archive-url=https://web.archive.org/web/20200810173834/https://pressroom.warnermediagroup.com/us/media-release/warnermedia-organization-update|url-status=live}}</ref>
* '''WarnerMedia News & Sports''', encompassed the company's worldwide broadcast news and sports operations, including [[CNN]], the [[Turner Sports]] subsidiary, and the [[AT&T SportsNet]] family of regional sports networks.<ref name="auto"/>
* '''WarnerMedia Sales & Distribution''' oversaw WarnerMedia's U.S. advertising sales, distribution and content licensing. The division also contained digital media company [[Otter Media]] ([[Fullscreen (company)|Fullscreen]] and [[Rooster Teeth]]).<ref name="auto"/>
* '''WarnerMedia Direct''' was responsible for the product, marketing, consumer engagement and global rollout of the company's direct-to-consumer streaming service [[HBO Max]].<ref name="auto"/>
* '''WarnerMedia International''' oversaw certain international variations of the company's domestic television channels, with a few region-specific channels. This group was also responsible for local execution of all of WarnerMedia's linear businesses, commercial activities, legacy streaming services such as HBO Portugal, [[HBO Go]] in certain countries which not yet served by HBO Max and regional programming for HBO Max.<ref name="auto"/>

==Leadership==
<small>* ''Note: all executives listed below were in office until its merger with Discovery, Inc. on April 8, 2022.''</small>

* [[Jason Kilar]] (Chief Executive Officer)
** Michael Bass, [[Amy Entelis]] and [[Ken Jautz]] (Interim Co-Heads, [[CNN]])
** Jennifer S. Biry (Chief Financial Officer)
** James Cummings (Executive Vice President & Chief Human Resources Officer)
** Andy Forssell (Executive Vice President & General Manager, [[HBO Max]])
** Tony Goncalves (Executive Vice President & Chief Revenue Officer)
** Christy Haubegger (Executive Vice President, Communications & Chief Inclusion Officer)
** James Meza (Executive Vice President & General Counsel)
** [[Ann Sarnoff]] (Chair and CEO, WarnerMedia Studios & Networks Group)
** Richard Tom (Chief Technology Officer)
** [[Gerhard Zeiler]] (President, WarnerMedia International)

== References ==
{{reflist}}

==External links==
* {{webarchive |url=https://web.archive.org/web/20200210110705/https://www.warnermediagroup.com/ |title=Official website |date=mdy}}
* {{cite web|url=https://www.encyclopedia.com/social-sciences-and-law/economics-business-and-labor/businesses-and-occupations/time-warner-inc|title=Time Warner Inc.|website=Encyclopedia.com}}

{{Warner Bros. Discovery}}
{{HBO}}
{{Special Tony Award}}
{{Authority control}}

[[Category:1972 establishments in New York City]]
[[Category:2018 mergers and acquisitions]]
[[Category:2022 mergers and acquisitions]]
[[Category:American companies established in 1972]]
[[Category:American companies disestablished in 2022]]
[[Category:Companies based in Manhattan]]
[[Category:Companies formerly listed on the New York Stock Exchange]]
[[Category:Conglomerate companies of the United States]]
[[Category:Conglomerate companies established in 1972]]
[[Category:Former components of the Dow Jones Industrial Average]]
[[Category:Mass media companies established in 1972]]
[[Category:Mass media companies disestablished in 2022]]
[[Category:Mass media companies based in New York City]]
[[Category:Multinational companies based in New York City]]
[[Category:Multinational companies headquartered in the United States]]
[[Category:Predecessors of Warner Bros. Discovery]]
[[Category:Warner Bros. Discovery]]
[[Category:Publishing companies based in New York City]]
[[Category:Publishing companies established in 1972]]
[[Category:Special Tony Award recipients]]
[[Category:Defunct telecommunications companies of the United States]]
[[Category:Defunct mass media companies of the United States]]
[[Category:Defunct companies based in New York City]]
[[Category:Trademarks]]
[[Category:Podcasting companies]]