AT&T Denies Reports of a Finalized Reorganization After Time Warner Close

AT&T denied Randall Stephenson is planning to no longer be CEO after the company buys Time Warner. The company said in a statement Friday that Stephenson will remain chairman and CEO post-close, and that no other decisions on organizational structure or leadership are finalized. It said Stephenson and TW CEO Jeff Bewkes "are working through that." Wells Fargo's Jennifer Fritzsche wrote investors that in the reported post-deal structure, it makes sense that Stephenson would become executive chairman overseeing co-CEOs John Stankey and John Donovan as heads of its media business and wireline and wireless businesses, respectively. The analyst cited different customer bases the company will serve.