NEW YORK: AT&T Inc is restructuring its WarnerMedia business, according to a memo sent to employees on Monday and seen by Reuters, as it girds for a streaming video battle with Netflix Inc and Walt Disney Co.
Traditional media companies are playing catch-up to Netflix, which has built a 150-million subscriber, global direct-to-consumer video streaming service by spending heavily on Hollywood television and movie talent. "At a time when we must shift our investment focus to develop more content for specific and demanding audiences on emerging platforms, we can't sustain a model where we invest one dollar more than necessary in the administrative aspects of running our business," WarnerMedia Chief Executive Officer John Stankey said in the memo."Put simply, our priority is to direct resources to product development and innovation.
CNN chief Jeff Zucker will add oversight of sports programming across the company as chairman of News and Sports.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
SG’s first line of defence to fight cyber attacks still lacks teethUnderstanding the necessity among Singaporean companies to take an active stance in responding to the increasing cases of multimillion dollar cyber th
Source: IndependentSG - 🏆 2. / 72 Read more »