Time Warner Investor Relations Head to Lead AT&T Integration Planning
Jessica Holscott will work closely with Lori Lee, AT&T’s integration leader.
Time Warner has picked head of investor relations Jessica Holscott as its lead executive for the planning of the entertainment company's integration into telecom giant AT&T.
Holscott, who has been senior vp investor relations since late last year, will work closely with Lori Lee, AT&T’s integration leader and senior executive vp and global marketing officer.
AT&T last year agreed to acquire Time Warner for $85.4 billion, with shareholders of the latter recently approving the deal, which must also get regulatory clearance. Time Warner communicated Holscott's new role in a staff memo, which The Hollywood Reporter has obtained, in recent days.
Holscott will continue to oversee investor relations, but much of the day-to-day operations in that area will be led by her second-in-command, Michael Senno, vp investor relations and a former Wall Street analyst.
Holscott joined Time Warner in September. She previously worked as vp investor relations and treasurer at automotive technology company Delphi and spent 16 years at General Electric in operating CFO roles at NBC Universal and at GE Asset Management, as well as senior staff positions at GE Corporate.
Time Warner chairman and CEO Jeff Bewkes wrote in the memo announcing her new role that Holscott would "work closely with Lori Lee, AT&T’s integration leader and senior executive vice president and global marketing officer, to create the blueprint for a seamless combination of our two companies." He said she would continue to work closely with CFO Howard Averill, "but will report directly to me on this important assignment."
The Time Warner boss also highlighted that "since joining Time Warner, Jessica has quickly gained the trust and respect of her colleagues across the company and done a terrific job in leading our IR efforts."
Concluded Bewkes: "Together, Jessica and Lori will begin developing a plan to engage our various business units with the goal of understanding how best to accelerate innovation, build on our creative successes and maximize [the profitability of the combined company]. We should expect to hear more from them in the coming weeks."