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WarnerMedia Chief Executive Jason Kilar, who led one of the most radical overhauls in the entertainment industry, plans to exit his post Friday.
The move comes in advance of WarnerMedia parent company AT&T Inc.
T,
and Discovery Inc.’s
DISCA,
expected closing of a deal to combine their media assets into a new publicly traded company dubbed Warner Bros. Discovery Inc.
Mr. Kilar made the announcement in a memo to staff viewed by The Wall Street Journal. “Now is the right time to share with each of you that I will be departing this amazing company as the transaction closes,” he wrote to staff.
In an interview, Mr. Kilar said he has no immediate plans for his next step. He added that he would continue to focus on technology, storytelling and innovation. “I’m not going to retire and sit on a beach,” he said.
An expanded version of this article appears on WSJ.com.
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