AT&T is rebranding Time Warner as WarnerMedia as part of the acquisition of the company that was made official on Thursday, June 14. While a move like this isn't necessarily an unheard of decision, the reasoning behind it is not so that AT&T can give the company a refreshed brand, rather it's because AT&T states people were confused between Time Warner and other divisions that used to be part of the company, such as Time Warner Cable which was sold off to Charter Communications a couple of years ago, though its name has already been changed as well. Nevertheless AT&T feels this will be a way for consumers to distinguish the differences.
AT&T didn't mention anything about when the name change will take place, and that's likely because it's already happened. While it will take some time to get the names changed on anything physical, like the offices of Time Warner, the website has already had the header changed, though the URL is still timewarner.com. AT&T has moved swiftly to rebrand the company in areas where it would be able to do so as quickly and easily as possible, and although the change is mostly about ensuring consumers know the difference between WarnerMedia and other Time Warner divisions that were or are in the process of being sold off, it also fits nicely with AT&T's vision for how media should be consumed, distributed, paid for, and created moving forward.
With a new company and a new name other parts of WarnerMedia will also be changing. Turner, for example, which is one of the networks under WarnerMedia, will be getting a new CEO as it's been reported that the current CEO John Martin will no longer be part of the company. At this point in time no replacement for the position has been named but it's likely that AT&T is already searching and may even have some candidates in mind for who it thinks is a fit for the role.