With an $85.4 billion acquisition comes change. For AT&T, that will reportedly mean a different role for CEO Randall Stephenson upon completion of the company’s pending takeover of Time Warner.
Stephenson will still be CEO, per reports, but he'll oversee two other executives who may also carry CEO titles. John Stankey, who's currently in charge of DirecTV, will lead AT&T's new-look media division, which will include Time Warner assets like Warner Bros. and HBO. Current AT&T chief strategy officer John Donovan will reportedly run the company’s wireless business, which will include AT&T’s phone business and DirecTV.
The moves indicate a commitment to establishing independence between AT&T’s different channels for creating and distributing content. The Time Warner deal is expected to close by the end of 2017.