Warner Bros tries to figure new change of guard

With the heads of Warner Bros. signing only two-year contract extensions, Time Warner Inc. Chief Executive Jeff Bewkes will focus on succession and how the movie and television studio should be managed in the face of tectonic shifts in the entertainment industry and a harsh economic environment.

The performance of the legendary Hollywood studio, with its rich legacy of producing cultural touchstones such as Looney Tunes and the "Harry Potter" series, will receive closer scrutiny as it becomes more important to the bottom line of parent Time Warner in the wake of its spinning off its cable TV systems.

At the same time, Time Warner must grapple with a movie and TV business that, after years of double-digit growth and spending, confronts mature markets being undercut by technology and the Internet.


Film Business, Hollywood

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