AT&T buying Time Warner/Warner Bros./DCTV/DCEU 0

[Bosco685]

Quote

WarnerMedia has initiated a new round of layoffs.

 

In a memo circulated Tuesday morning, CEO Jason Kilar wrote, “Today, we have arrived at a number of difficult decisions that are resulting in a smaller WarnerMedia team. This is a function of removing layers and the impact of consolidating previously separate organizations. Starting today in North America, we will be sharing which jobs are being eliminated and which roles have changed.”

 

News of the cuts comes weeks after the Wall Street Journal first reported that the company was looking to cut costs by as much as 20% and potentially lay off thousands of workers. Sources tell Variety that the number of jobs affected may be significantly lower than that story and subsequent reports indicated.

 

Read the full memo from Kilar below:

 

Team-

 

This is a very painful email to write. And for a number of you reading this, I realize it will be even more painful to receive. For this, I am sorry.

 

In August, I first shared news about how we were going to meaningfully change the organizational structure of WarnerMedia (which entailed, among other items, simplifying how we organize our entertainment studios, elevating HBO Max, and consolidating our commercial activities into one organization). Many of you have patiently waited to hear how the reorganization would affect you personally, which is both uncomfortable and stressful. Reducing this period of uncertainty was one of the many reasons we pushed so hard to get through this work as quickly and as thoughtfully as possible, although it probably didn’t feel fast enough. I want to thank you all for continuing to contribute your best, despite this challenging period and the additional pressure of everything else that has been going on in the world.

 

I’ve previously shared how critical it is for us to evolve how we operate in the context of best serving customers. As I mentioned a few months ago, this entails simplifying how we are organized, partnering with the very best storytellers, and leaning into world class product and technology as we share our stories directly with audiences across the globe. Our journey entails continuing to excel in our large, core businesses while at the same time investing in emerging businesses where we have the opportunity to meaningfully delight customers.

 

Today, we have arrived at a number of difficult decisions that are resulting in a smaller WarnerMedia team. This is a function of removing layers and the impact of consolidating previously separate organizations. Starting today in North America, we will be sharing which jobs are being eliminated and which roles have changed. We are continuing to review proposed changes in other countries across our non-US businesses, the timing of which will vary according to local regulatory requirements. Nothing about this is easy. But please know, these reductions are not in any way a reflection of the quality of the team members impacted, nor their work. It is simply a function of the changes I believe we must make in order to best serve customers. For those impacted, we will be offering severance and healthcare packages, in addition to professional services and team member assistance programs.

 

While I anticipate that organizationally, things will settle down materially in the weeks and months to come (we’ve worked hard to make this a process with a beginning, middle and an end), I don’t want to suggest that our future is static. Rather, our future is about inventing ever better ways to move the world through story … which entails embracing change. I have every confidence in this world class team to do just that.

 

Please join me in a Town Hall tomorrow at 2:00pm ET/11:00am PT where I will try and answer as many of your questions as possible. You can start to send your questions here.

 

To our colleagues who are leaving, I wish there were words to lessen today’s pain. Your contributions are a permanent part of this great company and today’s news does not change that. I am extremely thankful for all that you have done for this team and this mission. I hope that at some point you will look back on all of it with immense pride.

 

Until then, please stay well and safe.

Jason

 

[Buzzetta]

If the Amazon inquiry does not result in an Amazon Breakup I could easily see Amazon picking up DC. 

[shadroch]

I wonder if ATT would consider selling off Superman or Batman. 

[Bosco685]

56 minutes ago, Buzzetta said:

If the Amazon inquiry does not result in an Amazon Breakup I could easily see Amazon picking up DC. 

 

8 minutes ago, shadroch said:

I wonder if ATT would consider selling off Superman or Batman. 

I used to think 'It will never happen'. Now...

[Buzzetta]

2 hours ago, Bosco685 said:

 

I used to think 'It will never happen'. Now...

My biggest fear is that these characters will slip into a bankruptcy or even worse, into the 'wrong' hands.

This past October Apple, Facebook, Amazon, and Google were found to be "anticompetitive". There is a possibility that these companies will be forced to restructure and/or break off part of their holdings.  

So if DC becomes available it not only becomes a question of who can afford the property, but who wants to flaunt buying more intellectual property and entering a field after being found to be 'anticompetitive'.   If I am Amazon and I am officially labeled as "anticompetitive", am I buying Superman and entering that playing field?  Tech is going to want to keep a lower profile than that.

Does Disney buy up DC? They already had a high profile anti trust case last year when it came to the Fox merger.   Maybe Disney throws the dice to see if they can land it... maybe they do not. 

Does the price go down so another company can afford to buy it?  Do we want to see that happen?  It takes a company with a lot of resources to successfully manage a brand like Superman.  I don't think Valiant Comics can handle the character.  I also don't see Darden Restaurants navigating the comic character field. 

Do I really want to see Batman purchased by a company not suited for entertainment, like Anheuser Busch ?   Do I want to see Superman on a can of Bud Lite?  

 

 

 

Edited November 10, 2020 by Buzzetta

[bc]

9 minutes ago, Buzzetta said:

Do I want to see Superman on a can of Bud Lite?  

How about Hulk on lettuce? Check!

-bc

[Bosco685]

49 minutes ago, Buzzetta said:

yadda yadda yadda

I'm going to avoid this topic only because I was given a warning recently for posting something assumed to be political. Don't want the lines blurred again.

Edited November 10, 2020 by Bosco685

[Buzzetta]

@Bosco685  Seriously?  

Then unquote me and I will rephrase. 

[Bosco685]

2 minutes ago, Buzzetta said:

@Bosco685  Seriously?  

Then unquote me and I will rephrase. 

Fun times were had by all.

[Buzzetta]

4 minutes ago, Bosco685 said:

Fun times were had by all.

 

Better? 

As least you know of my intent here.  

If Amazon and Apple are taken out of the equation, then who picks up the rights to these characters with the ability to properly steer the ship?  I don't really see anyone else out there and I don't really see Disney doing it at this point. 

[Bosco685]

45 minutes ago, Buzzetta said:

Better? 

As least you know of my intent here.  

If Amazon and Apple are taken out of the equation, then who picks up the rights to these characters with the ability to properly steer the ship?  I don't really see anyone else out there and I don't really see Disney doing it at this point. 

I agree.

Just like some assumed DC Comics was being shut down by AT&T, we may find out AT&T sees the value to feeding HBO Max with steady source material for its shows.

[Buzzetta]

6 hours ago, Bosco685 said:

I'm going to avoid this topic only because I was given a warning recently for posting something assumed to be political. Don't want the lines blurred again.

Maybe, every time one of us gets a strike or points on flimsy reasoning that we should submit a book to an alternative company, scan the invoice and post it, tagging cgcmod1 in the post while printing out the strike notification and sending that along with the invoice to the big guys in Florida. 
 

but hey, that’s just me 

[HighVoltage]

14 hours ago, Buzzetta said:

Maybe, every time one of us gets a strike or points on flimsy reasoning that we should submit a book to an alternative company, scan the invoice and post it, tagging cgcmod1 in the post while printing out the strike notification and sending that along with the invoice to the big guys in Florida. 
 

but hey, that’s just me 

The cut of your jib is sharp, good sir! 

[Bosco685]

Quote

WarnerMedia CEO Jason Kilar addressed company employees at a virtual town hall meeting Wednesday, which followed the latest round of layoffs at the media company yesterday.

 

Kilar, joined by James Cummings, EVP and Chief Human Resources Officer, and Christy Haubegger, EVP and Head of Marketing & Communications, opened the hour-long meeting by acknowledging Veterans Day and paying homage to those who have served the country, sources said.

 

Through some technical glitches early on, I hear Kilar spoke about the painful, gut-wrenching experience of letting people go. He did not provide a count, but hundreds of employees are believed to have exited via layoffs and buyouts yesterday in the completion of a major staff reduction that started with August 10 cuts.

 

Attendees were reminded of the grim reality of layoffs by getting Deadline’s breaking news alert on Jim Gallagher’s exit as EVP Marketing in Warner Bros.’ Animation & Family unit in the middle of the town hall.

 

Kilar, who I hear explained the recent reorganization and significant layoffs with the massive impact the Internet has had on how customers choose to be served content, stressed that the worse is over. He confirmed that WarnerMedia is done with layoffs domestically, sources said (because of regulatory rules, some cuts internationally take longer to implement).

 

During the Q&A portion of the town hall, in which the three speakers took turns answering questions, Kilar was asked to address speculation that CNN may be on the block. He didn’t explicitly say no, but appeared bullish on the cable news network, highlighting its recent ratings success during the final stretch of the election cycle and speaking of the net’s importance to the future, I hear.

 

Kilar also was bullish on HBO Max. He trumpeted the fact that the new streamer has added 2.1 million paying customers, not converted HBO subscribers, in the past 90 days versus 177,000 for incumbent Netflix (which, of course, has a massive base to which new subscribers are added).

 

He again was asked about the fact that HBO Max is not on Roku or Amazon Fire, reiterating that “to say that area is important to us is an understatement,” with sources saying he expressed confidence the platform will eventually get carriage on both services because it is good for both sides.

 

Asked about the high price of HBO Max, Kilar called it a good value proposition and he also spoke about plans for international expansion — without providing specifics, I hear.

 

HBO, which is helping to power HBO Max, also got a shout-out I hear, with Kilar touting the premium cable network’s new buzzy limited series The Undoing.

 

On other subjects, Kilar also reportedly stressed how important culture is for the new WarnerMedia after the company went through a number of controversies over the last couple of years.

Wow! So much to reflect upon.

And if yet another news source gets sold off to a private firm, that is going to be nuts.