WarnerMedia announces plans for direct-to-consumer streaming service

Statement from WarnerMedia CEO John Stankey announcing plans for direct-to-consumer streaming service

NEW YORK — “Today we announced plans to launch a new direct-to-consumer streaming service in the fourth quarter of 2019. This is another benefit of the AT&T/Time Warner merger, and we are committed to launching a compelling and competitive product that will serve as a complement to our existing businesses and help us to expand our reach by offering a new choice for entertainment with the WarnerMedia collection of films, television series, libraries, documentaries and animation loved by consumers around the world. We expect to create such a compelling product that it will help distributors increase consumer penetration of their current packages and help us successfully reach more customers.”