AT&T Dropping Time Warner Name, Jeff Bewkes Following Merger

AT&T, which is "gearing up to take charge of Time Warner, plans to dump the media company’s corporate name as well as name" a new CEO to replace Jeff Bewkes. Sources said that AT&T has "approached potential candidates for a position that would sit above Time Warner’s Turner, HBO and Warner Bros. units" and report to AT&T Entertainment CEO John Stankey. Bewkes is "expected to exit as soon as the deal closes" with a $95M buy-out. Sources said that AT&T had "initially hoped" that longtime media exec Peter Chernin would "fill the new role, though he said no." Sources added that the company has hired Chicago-based executive search firm Heidrick & Struggles to "conduct the search" (N.Y. POST, 8/4).