WarnerMedia chief executive John Stankey announced Tsujihara's exit as chairman and chief executive of Warner Bros., saying his departure on Monday was in the studio's "best interest." The scandal unfolded just as Warner Bros. was restructuring on the heels of AT&T's takeover of WarnerMedia, previously known as Time Warner. Tsujhara responded, "Richard will be reaching out to u tonight," referring to Richard Brener, president of Warner Bros.' New Line label. Warner Bros. was then finalising a $US450 million ($NZ656 million) co-financing deal with Packer and Brett Ratner, the director-producer. Warner Bros. last year amassed $US5.6 billion in global ticket sales, its best haul ever.

Source: Otago Daily Times March 18, 2019 20:26 UTC