WarnerMedia executive exits set up Discovery-heavy leadership team
WarnerMedia (T
-0.4%) studio/networks chief Ann Sarnoff is exiting that role - part of an exodus that sets up a very Discovery-centric (DISCA
-1.6%) leadership team as the new Warner Bros. Discovery (WBD) is just a few days away from its birth.
Andy Forssell, head of HBO Max, is also reportedly leaving.
Sarnoff became the first female head of Warner Bros. in 2019. But her exit, combined with Forssell's and that of WarnerMedia CEO Jason Kilar, sets up a new era at the helm of the company.
Discovery CEO David Zaslav - notably fond of cutting management layers - will become the fourth CEO overseeing WarnerMedia assets in just five years, signaling the turbulent times at the former Time Warner under the stewardship of AT&T.
Meanwhile, JB Perrette (leader of Discovery Streaming and International) looks pegged to take over the WBD's direct-to-consumer operations. Discovery's Chief Financial Officer Gunnar Wiedenfels is staying in that role as well.
HBO/HBO Max programming chief Casey Bloys is expected to stick around in that role, though, Deadline reports.
AT&T had officially set expectations for a mid-April wrap-up, but the closing of the $43 billion deal could come as soon as the end of Friday, which would beat expectations of a Monday closing. Variety reports that a townhall with Zaslav is in the works for mid-week next week.
On Tuesday, telecom analyst Craig Moffett adopted a Neutral stance in valuing what will be left behind at AT&T after its media exit.