Employees at WarnerMedia, the newly re-christened entertainment enterprise formerly known as Time Warner, are eyeing their new corporate leaders with trepidation. They’re worried that At&T, the telecommunications giant that snapped up the company in a blockbuster $85 billion transaction, will do a lot more than simply rename its new bauble.
Having lived through one megamerger — Time Warner’s disastrous 2000 marriage with AOL — and seen other entertainment companies, such as NBCUniversal and Scripps, get taken over by sprawling corporate owners, they’re understandably fearful of a future that undoubtedly will include layoffs and cultural overhauls. And At&T is known for cutting costs.
Having lived through one megamerger — Time Warner’s disastrous 2000 marriage with AOL — and seen other entertainment companies, such as NBCUniversal and Scripps, get taken over by sprawling corporate owners, they’re understandably fearful of a future that undoubtedly will include layoffs and cultural overhauls. And At&T is known for cutting costs.
- 6/20/2018
- by Brent Lang
- Variety - TV News
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