[Asia Economy Reporter Jeong Hyunjin] Jason Kilar, CEO of the American entertainment and media company WarnerMedia, announced his resignation on the 5th (local time) ahead of the merger with cable channel operator Discovery.
According to The Wall Street Journal (WSJ) and others, CEO Kilar notified employees through a memo on the same day that he would resign on the 8th. He stated, "As the completion of the merger with Discovery approaches, I thought now was the right time to announce my intention to step down."
CEO Kilar has served as WarnerMedia's CEO since April 2020, restructuring the company with a focus on streaming services, and last year introduced the measure to release new films simultaneously in theaters and on streaming platforms for the first time. In an interview, he said he currently has no plans after his resignation but will continue to focus on technology, storytelling, and innovation, adding, "I will not retire or sit by the beach to rest."
WarnerMedia will be reborn as a new media group by merging with Discovery after being spun off from the largest U.S. telecommunications company AT&T. The merger process between the two companies is expected to be completed by the end of this month. WarnerMedia subsidiaries include the film production company Warner Bros., cable channels HBO and CNN, and the streaming platform HBO Max.
WSJ, citing sources, reported that David Zaslav, who will become CEO of the merged company WarnerDiscovery, is unlikely to replace CEO Kilar, and that the remaining merger procedures over the next few weeks will be finalized by Zaslav and other executives.
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