Market Overview

Warner Brothers CEO Exits After Sexual Misconduct Investigation

Share:
Warner Brothers CEO Exits After Sexual Misconduct Investigation

Warner Brothers CEO Kevin Tsujihara lost his job Monday after allegations of sexual misconduct, according to CNBC

What Happened 

The company has yet to name a successor for the exec, who is still under investigation for allegedly promising acting roles in exchange for sex. The Hollywood Reporter first reported the allegations — which date to 2013 — in March. 

Why It's Important

WarnerMedia is owned by AT&T (NYSE: T). Tsujihara, 54, had worked for Warner Bros. for 24 years.

Tsujihara was the first executive of Asian descent to head a major Hollywood studio and led Warner Bros. to its most profitable year in 2017, CNBC said.

He has admitted that his mistakes are inconsistent with the company’s leadership and could impact the company’s ability to execute going forward.

What’s Next

Tsujihara and Warner Bros. are working with a third-party law firm to complete an investigation into his alleged misconduct, according to Fox News

AT&T shares were up 0.16 percent at $30.73 at the time of publication Monday.

Related Links: 

AT&T Could Find Upside With Earnings Growth, Delevering, Raymond James Says In Upgrade 

One Media Expert's Take On Why Plepler Quit HBO 

Photo via Wikimedia

Posted-In: CNBC Fox News Kevin Tsujihara The Hollywood ReporterNews Management Media Best of Benzinga

 

Related Articles (T)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Inside The ETF That Pays You To Invest

Analysts React To Diplomat Pharmacy's Q4 Earnings, Concerning Guidance