The first move will see a redefined role for CEO Randall Stephenson, according to Bloomberg, which first reported the story.
Stephenson will become executive chairman and oversee a pair of CEOs who will independently manage the company’s telecommunications and media businesses, according to people familiar with the matter.
In addition, John Stankey who now leads DirecTV and other entertainment businesses will be CEO of the media division including Time Warner, they stated.
Current Time Warner CEO Jeff Bewkes has already announced he would step down once the AT&T was done.
However, opposition to the deal from various factions in the US remains.