AT&T has taken over the ownership of WarnerMedia and is doing just everything possible to streamline its operations. It is cutting down all the niche-oriented business ventures to reduce the company’s investment.
One such move is to shut down The FilmStruck indie. This Friday, Turner and Warner Bros. Digital Networks announced that they are shutting down their arthouse and classic film subscription-streaming service from next month. This move was already planned when AT&T was closing the Time Warner deal, two sources revealed.
Source-CNet
Warner Bros. abruptly pulled the plug on its DramaFever, a VOD service especially for Korean drama on October 16. It has also announced to kill off its TV studio Super Deluxe. These are all just part of the AT&T initiative to grow the Warner Media in a proper way. One of the sources at Variety said,
“They felt Time Warner overall had too many initiatives,” the exec said. “[AT&T] have their hands full. They have no time to think about, ‘What do we do with this growth property?’”
The FilmStruck indie debuted in November 2016 and will be ceased on 29 November 2018.
Source- Variety
