New York: AT&T Inc said on Friday that its executives will head its media and wireless businesses following the close of its $85.4 billion acquisition of Time Warner Inc.
As of Aug. 1, John Stankey, who currently leads DirecTV and other entertainment businesses for the No. 2 U.S. wireless carrier, will lead the team charged with Time Warner`s integration before transitioning to chief executive of the media business once the merger is complete. John Donovan, currently chief strategy officer, has been named chief executive of AT&T Communications, which will include AT&T`s wireless and DirecTV businesses.
The deal, expected to close by the end of the year, would give AT&T control of cable TV channels HBO and CNN, film studio Warner Bros and other coveted media assets. It still needs approval from the U.S. Justice Department.
AT&T also said that Lori Lee will lead AT&T`s international business in addition to her responsibilities as global marketing officer.
The three executives will continue to report to AT&T Chief Executive Randall Stephenson, AT&T said.
A source told Reuters earlier this month that AT&T would run its wireless and DirecTV satellite television businesses separately from Time Warner Inc`s media assets following its acquisition of the entertainment group.
AT&T shares were up 8 cents at $39.08 in after-hours trading.
