AT&T completes acquisition of Time Warner

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AT&T has completed its acquisition of Time Warner. The announcement was made just two days after a federal judge approved the USD 85.4 billion deal. Following the acquisition, AT&T rebranded Time Warner as WarnerMedia.
In this way, the telecommunications company complements its video, mobile and broadband portfolio with the entertainment offer of Warner Bros., HBO and Turner. “We’re going to bring a fresh approach to how the media and entertainment industry works for consumers, content creators, distributors and advertisers,” said Randall Stephenson, chairman and CEO of AT&T.
According to the executive, AT&T now brings together Premium content of Warner Bros., HBO and Turner, along with more targeted digital content from Bleacher Report, FilmStruck and AT&T’s investment in Otter Media, among others. Moreover, AT&T has more than 170 million D2C relationships across its TV, video streaming, mobile and broadband services in the U.S., mobile in Mexico, TV in Latin America, in addition to D2C digital properties such as HBO NOW, Boomerang, and CNN.com.
Recently, AT&T announced that Time Warner will be rebranded as WarnerMedia. The announced was made by John Stankey, the new CEO of the company, in an internal memo. “Why WarnerMedia? The short answer is that it tested very well externally as a naming convention that holds the valuable HBO, Turner and Warner Bros. brands,” the executive wrote. “In addition, we felt that maintaining an element of the proud, established and successful Time Warner is a testament and sign of respect for both its history and for you, as architects of that legacy,” Stankey added, according to CNN, which is part of the media group.