T - WarnerMedia chief Kilar exiting with Discovery merger closing

WarnerMedia (T -0.8%) CEO Jason Kilar has confirmed he will exit as the AT&T entertainment unit barrels toward a merger with Discovery (DISCA -1.5%). “With the pending transaction with Discovery nearing close, now is the right time to share with each of you that I will be departing this amazing company,” Kilar says in an employee memo. "We’re leading the industry creatively. We’ve elevated technology, product, and design to the highest levels in the company. We’re operating as one team, proudly and successfully going direct to consumers across the globe," he continues. Kilar had said last May that he would stay put at the helm of WarnerMedia through 2021, saying there would be time to consider his future in 2022. That future now looks to take place outside of Warner Bros. Discovery. Earlier, analyst Craig Moffett weighed in with valuation of the simpler, post-transaction AT&T.

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WarnerMedia chief Kilar exiting with Discovery merger closing