Dee Dee Myers Steps Down at Warner Bros as Company Transitions Toward Streaming
Dee Dee Myers, the former White House press secretary who was the inspiration for "The West Wing" character C.J. Cregg, is leaving her position as Warner Bros. head of corporate communications after a five-year stint.
Myers leaves nearly two years after telecom giant AT&T acquired Time Warner for $85 billion, shifting the media giant more toward technology and streaming services. She also helped the studio weather a tumultuous point at the company after studio chief Kevin Tsujihara stepped down amid a scandal.
"We faced our share of long days, late nights and heart-stopping headlines," Myers said in a memo to staff. "I will leave on April 1 with only the fondest memories — and a trunk full of swag."
AT&T reported last month that it lost 219,000 subscribers at its AT&T TV Now streaming service during the fourth quarter. The company also lost 945,000 premium subscribers at DirecTV and U-Verse. WarnerMedia earnings in the quarter were also down.
AT&T CFO John Stephens said at the time the company would continue to have some financial struggles as AT&T prepares to launch HBO Max in May, part of the combined company's transition toward technology services. "We expect pressure from heavy HBO Max investment, which you saw begin in the fourth quarter," he said on an earnings call.
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The legendary broadcaster Larry King died Saturday in Los Angeles at 87 after being hospitalized for COVID-19. He may best be remembered as the longtime host of CNN who interviewed the most notable personalities of the 20th century, including Vladimir Putin and Frank Sinatra, but he also worked tirelessly to build a bridge for the next generation.
The largest property technology or "proptech" venture firm Fifth Wall is joining the SPAC boom.
In a filing with the Securities and Exchange Comission this week, the firm said its creating a special acquisition company (SPAC) and intends to raise up to $287 million by selling 28.75 million shares at $10 a piece to seek out opportunities in real estate tech.
- Brendan Wallace, Co-Founder & Managing Partner at Fifth Wall - dot ... ›
- Fifth Wall Venture Firm Is Now a B Corporation - dot.LA ›
Electric vehicle charging station provider EVgo is going public, joining a wave of companies in the electric vehicle industry hoping to ride on Tesla's soaring stock growth over the last year.
The Los Angeles-based startup, which operates a nationwide fast-charging network for electric vehicles, announced Friday it's going public through a merger with a special purpose acquisition company that will generate about $575 million in net proceeds.