IT company decides to run wireless media as separate units

Monday 17 July 2017 7 days ago 22   New York   Print

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Report  Web Desk : NEW YORK: AT&T Inc will run its wireless and DirecTV satellite television businesses separately from Time Warner Inc media assets following its $85.4 billion (65 billion pounds) acquisition of the entertainment group, a source told Reuters on Friday. Buying Time Warner gives AT&T control of cable TV channels HBO and CNN, film studio Warner Bros and other coveted media assets. AT&T post-merger plans were earlier reported by Bloomberg News. The deal, announced in October, is seen as a bold move by the telecommunications giant to acquire content to stream over its network. AT&T hopes the programming will give it a competitive edge in a saturated wireless market. The deal also brings a wealth of user data for more targeted advertising. The reorganisation will leave AT&T executives in charge of the combined company. John Stankey, who currently leads DirecTV and other entertainment businesses, will head up the media division and John Donovan, AT&T chief strategy officer who oversees technology and operations, will run the wireless business, the source said.reorganization will leave AT&T executives in charge of the combined company. John Stankey, who currently leads DirecTV and other entertainment businesses, will head up the media division and John Donovan, AT&T chief strategy officer who oversees technology and operations, will run the wireless business, the source said. 02