The news that NBCUniversal CEO Steve Burke is planning to exit when his contract expires in 2020 comes at the same time the top job is also open at WarnerMedia. The two transitions atop major media…
the situations have a wide audience tuned in.Beset by high-tech rivals, seeing their longtime foundations in pay-TV and motion pictures start to develop fissures, the lions of media are finally entering the streaming game after years on the sidelines. Steering streaming will be Job 1 for anyone in the corner office. NBCU will roll out Peacock, an ad-supported service, next April. WarnerMedia, owned by AT&T, will follow in May with subscription offering HBO Max.
At WarnerMedia, Stankey has overseen the entertainment portfolio for more than two years, a period spanning the $81 billion Time Warner acquisition and its subsequent rebrand as WarnerMedia. A lifetime telecom exec who became No. 2 at AT&T in October, taking the newly created post of Chief Operating Officer, Stankey was never a natural fit in Hollywood.
Other internal possibilities include Gerhard Zeiler, Bob Greenblatt and Sandra Dewey. Zeiler, who heads sales and international efforts as the company’s Chief Revenue Officer, has a stronger rep internationally than domestically, having run international for Turner and made waves during a lengthy CEO stint at RTL Group.
Elliott Management, the activist hedge fund that has agitated for a suite of changes at AT&T, has expressed a strong preference for an infusion of outside management talent in general, though it hasn’t weighed in on the WarnerMedia job.
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