March 16, 2022
AT&T may have sold operational control of media company Warner Bros. Discovery on hold, but still retains majority stake from former WarnerMedia unit. As a result, the telecom company on March 16 named the seven board members, including the chairman, who will represent the company on the new 13-member board following U.S. regulatory approval of the transaction. of $43 billion.
Discovery, which has operational control of Warner Bros. Discovery through CEO David Zaslav, will appoint the remaining six board members.
The seven-member board includes three AT&T directors who will step down from their seats once the merger is complete. Among them, Samuel Di Piazza, former executive of PricewaterhouseCoopers, who will be president of Warner Bros. Discovery; Debra Lee, former president and CEO of BET Networks; and Geoffrey Yang, founding partner and managing director of Redpoint Ventures.
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They are joined by Li Haslett Chen (Founder/CEO of Narrativ); Richard Fisher (former President of the Federal Reserve Bank of Dallas); Fazal Merchant (Senior Advisor to Sixth Street Partners); and Paul Price (most recently CFO of Macy’s).
“These respected leaders bring a wealth of experience in finance, technology, media and entertainment, international trade, venture capital, and digital and direct-to-consumer platforms, which is vitally important. for the future of Warner Bros. Discovery,” said AT&T CEO John. Stankey said in a statement.