HBO's Richard Plepler stepping down after 27 years
HBO Chairman and CEO Richard Plepler, shown in 2014, stepped down on Thursday ahead of a restructuring.
Netflix is spending billions of dollars more than its rivals to buy shows, and HBO in the last year has lost some ground as it tries to maintain marquee talent. For example, Nicole Kidman, who starred in HBO’s “Big Little Lies,” recently signed a television production deal at Amazon Studios, while her co-star Reese Witherspoon struck a partnership with Apple Inc., which is trying to ramp up its TV output.
WarnerMedia CEO John Stankey had previously signaled that changes were afoot at HBO, which long had been accustomed to operating with little interference from its corporate owners. Greenblatt, who could take over as early as next week, would have a more expansive portfolio than Plepler. He would be in charge of HBO and the Turner entertainment channels, TNT, TBS and Tru television, as well as the planned new streaming service, which is expected to launch this year.
He also spearheaded the launch of HBO on digital platforms, including Amazon.com and Hulu, as well as creating the stand-alone streaming service HBO Now. The digital push resulted in 7 million additional subscribers and has brought in more than $1 billion in annual revenue.
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