After AT&T closed its $85.4 billion acquisition of Time Warner on Thursday, the wireless giant immediately appointed John Stankey, a 30-year veteran of AT&T, to oversee the part of the business that includes CNN, HBO and valuable film franchises such as “Harry Potter.”
Mr. Stankey, 55, who once led wireline operations at AT&T and more recently oversaw the start of its streaming service, DirecTV Now, is now in charge of a $31 billion conglomerate that comprises Warner Bros. film studios, Turner and HBO.
In an internal note to employees on Friday, he announced that John Martin, the chief executive of Turner, would be leaving. The executives under Mr. Martin, including CNN’s Jeff Zucker, will report directly to Mr. Stankey, as will the HBO chief Richard Plepler and the Warner Bros. head Kevin Tsujihara. Jeffrey L. Bewkes, the chief executive of Time Warner, will be a senior adviser during a transition period and then retire.
