OTTER MEDIA TO REALIGN UNDER WARNERMEDIA ENTERTAINMENT

Tony Goncalves and Andy Forssell Will Play Major Roles in New Streaming Service

May 31, 2019

New York - WarnerMedia announced today that Otter Media is being realigned under the WarnerMedia Entertainment group run by Bob Greenblatt, Chairman of WarnerMedia Entertainment and Direct-To-Consumer. This will bring together the significant digital businesses of the company at a time when the organization's new direct-to-consumer platform is being built with access to content from HBO, the WarnerMedia cable networks, Warner Bros., plus a robust slate of new original content.

Tony Goncalves, CEO of Otter Media, will now also lead the development of the new WarnerMedia direct-to-consumer service, along with Otter's existing brands and services. He will report to Greenblatt. Andy Forssell, most recently COO of Otter Media and former CEO of Hulu, will move to the role of EVP and General Manager of the new streaming service reporting to Goncalves. Kevin Reilly, President, TBS/TNT/TruTV and Chief Content Officer of Direct-to-Consumer, will remain in that position reporting to Greenblatt. Brad Bentley, who was serving as the streaming service's general manager, informed the company that he would be leaving.

As we continue to build out our new streaming business and realign WarnerMedia functions, this step will facilitate further scale and focus in our efforts to offer customers an engaging and compelling product experience, said John Stankey, CEO, WarnerMedia. I'm confident that with Tony and Andy leading our product and operations, Kevin and HBO's Casey Bloys guiding our content strategy, and with Bob at the helm, we have a formidable team creating a curated streaming service with a winning combination of content and features. I also want to thank Brad for his leadership in bringing the project to this point in record time.

The thriving Otter Media businesses are important to this company and I'm happy to welcome Tony and Andy to our direct-to-consumer team, added Bob Greenblatt. This group's expertise will be invaluable to our new streaming service as we aim to bring content from the best storytellers in the world to an audience that expects the highest quality digital experience.

Goncalves joined Otter Media, the leader in fan-centric, digital-first entertainment, as CEO last year. Through AT&T's acquisition of DIRECTV, he served as CEO of Digital Brands and Head of Strategy and Business Development for AT&T where he helped the company navigate the rapid pace of change in a digital centric world.

Forssell currently serves as EVP and Chief Operating Officer of Otter Media, as well as President of Fullscreen. He joined Otter from Fullscreen where he served as COO for several years, overseeing the company's day-to-day operations, as well as leading technology and product development. Forssell has served in a number of CEO, COO and general management roles, at companies like Hulu and ShowYou, helping to define and evolve the world of streaming video from its infancy.

About WarnerMedia

WarnerMedia is a leading media and entertainment company that creates and distributes premium and popular content from a diverse array of talented storytellers and journalists to global audiences through its consumer brands including: HBO, Warner Bros., TNT, TBS, CNN, DC Entertainment, New Line, Cartoon Network, Adult Swim, Turner Classic Movies, truTV and others.

WarnerMedia is part of AT&T Inc. (NYSE:T).

About Otter Media

Otter Media is a digital media company focused on engaging and entertaining fans globally, enabling passions to thrive. The company was formed by AT&T and The Chernin Group in 2014 and was recently fully-acquired by AT&T. Otter invests in, grows and operates companies involved in digital marketing, social media, video services, content development, production and distribution, ultimately building the next wave of consumer brands built around passion and true community.

Otter Media's portfolio includes Fullscreen, a leader in social-first entertainment experiences serving creators and brands; Crunchyroll, the world's most popular anime brand, boasting a global community of more than 12 million monthly site visitors and over 2 million subscribers; VRV, a fast-growing entrant in the SVOD space and audience- focused aggregation platform; Rooster Teeth, a media and entertainment company serving the gaming community with a footprint of more than 40 million subscribers to its YouTube network, over 5 million monthly visitors to RoosterTeeth.com, and 2.5 million registered community members; a majority stake in Gunpowder & Sky, a digital- first studio creating and distributing innovative, edgy and narrative-driven content independent of form, genre or platform; and minority stakes in Hello Sunshine, a cross- platform brand and content company for women founded with Reese Witherspoon, and Mars Reel, a media and lifestyle brand focused on telling authentic stories of top high school athletes through premium video content.

Contact:

Keith Cocozza

Keith.Cocozza@warnermediagroup.com

(212) 484-7482

Kevin Brockman

Kevin.Brockman@warnermediagroup.com

(818) 559-7946

Emile Lee

Emile.Lee@warnermediagroup.com

(212) 484-7416

Jade Ekstedt

jade@ottermedia.com

(310) 480-9416

LINK:	http://origin-www.timewarner.com/newsroom/press-releases/2019/05/31/ot...
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