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Business

New HBO head vows not to mess with ‘quality’ amid cutbacks

By
Alexandra Steigrad
Published March 4, 2019, 7:08 p.m. ET

The new chairman of WarnerMedia, which owns HBO, wants critics to know that he’s not planning to mess with smash hits like “Game of Thrones” — even as parent company AT&T warns that cost cuts and layoffs are looming.

“There won’t be massive layoffs at all. I want HBO to flourish,” WarnerMedia Entertainment chairman Bob Greenblatt told The Post. “We can run it slightly more economically without throwing the baby out with the bath water,” Greenblatt said in vowing to “maintain its quality.”

Greenblatt, 59, made the comments after AT&T announced a massive reorganization of HBO and Turner Broadcasting that it says will help the company prioritize streaming video over cable television.

The reorganization puts Greenblatt, the Hollywood producer behind “Six Feet Under,” in charge of the yet-to-launch streaming service as well as HBO, TNT, TBS and Tru TV.

Long-time HBO chief Richard Plepler and Turner Broadcasting head David Levy shocked Tinsel Town last week with news of their exits.

The newly merged company warned other heads could roll as its seeks to consolidate costs — prompting critics to warn the company against slashing too deeply.

“There is nothing more critical in a media company than talent and the personal relationships that that talent brings,” said Craig Moffett, an analyst at MoffettNathanson. “It therefore follows that retaining talent is job one. In this regard, AT&T starts with one strike against them.”

The telecom has set its sights on investing in content and developing a streaming service as viewers move from cable to streaming. That endeavor includes the elimination of long-held jobs, increased investments to compete with the likes of Netflix, Amazon and Disney.

The companies, which just finalized their $85 billion marriage, also have to work to merge culturally, Moffett said, noting that “the cultures of a phone company and a media company couldn’t be more different.”

“We are going to be doing some restructuring and realigning of brands,” Greenblatt said. “But we’re not kidding ourselves we know it’s an enormous challenge.”