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WarnerMedia Layoffs Are About "Refocusing," Film Schedule Remains in Flux, AT&T CFO Says
A reorganization, including major layoffs, at WarnerMedia is designed to allow the AT&T entertainment unit to refocus on streaming as a key growth opportunity, CFO John Stephens told an investor conference on Tuesday. Speaking at the Oppenheimer Virtual Technology, Internet & Communications Conference, which was webcast, he also said the pandemic has also been "forcing us to look at new ways to distribute content," including outside cinemas, and other ways of doing business differently.