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WarnerMedia ousts top streaming executives as part of restructuring

Revenue from WarnerMedia segment, which includes HBO, fell 22.7% to $6.8 billion in the second quarter, with the COVID-19 pandemic having a $1.5 billion impact on sales. WarnerMedia also said it would cut jobs, without disclosing the number of employees impacted.

Reuters | Washington DC | Updated: 08-08-2020 02:20 IST | Created: 08-08-2020 02:17 IST
WarnerMedia ousts top streaming executives as part of restructuring
Representative image Image Credit: Facebook

WarnerMedia's Bob Greenblatt and Kevin Reilly, executives who oversaw its HBO Max streaming business, will leave as part of a restructuring, the company said on Friday. The restructuring is the first major action taken by Chief Executive Officer Jason Kilar, a former Amazon.com executive, who built Hulu.

"We are elevating HBO Max in the organization and expanding its scope globally," Kilar said in a mail to staff. Andy Forssell, general manager of HBO Max, will now lead a newly created HBO Max operating business unit, Kilar added.

AT&T Inc hired Kilar to take charge at WarnerMedia as it battles Netflix and Disney for streaming video customers. Revenue from WarnerMedia segment, which includes HBO, fell 22.7% to $6.8 billion in the second quarter, with the COVID-19 pandemic having a $1.5 billion impact on sales.

WarnerMedia also said it would cut jobs, without disclosing the number of employees impacted.


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