WARNER BROS. PICTURES GROUP AND HBO MAX ANNOUNCE WARNER MAX, THE FEATURE FILM PRODUCTION ARM FOR THE NEW STREAMING SERVICE

LOS ANGELES - February 5, 2020 - The creation of Warner Max, a new film label that that will serve as the feature production arm of HBO Max, was announced today by Ann Sarnoff, Chair and CEO of Warner Bros., and Warner Media Entertainment and Direct-To-Consumer Chairman Robert Greenblatt. This unique joint venture between one of Hollywood's most successful movie studios and its sister company HBO Max, which launches in May, will ensure that the new platform has a steady stream of high-quality and highly curated original films.

With an initial target of eight to 10 mid-budget movies per year, the new joint venture will be overseen by HBO Max's Chief Content Officer Kevin Reilly and Chairman of Warner Bros. Pictures Group Toby Emmerich, who share greenlight responsibility for Warner Max films and will work in close collaboration with senior executives Carolyn Blackwood (COO, Warner Bros. Pictures Group) and Sarah Aubrey (Head of Original Content, HBO Max). Jessie Henderson, executive vice president of original feature films for HBO Max, will expand her role to serve as the day-to-day head of the label and liaison between HBO Max and Warner Bros. Pictures Group and jointly report to Aubrey and Blackwood.

This new partnership will take advantage of the WarnerMedia organization's vast feature film expertise, library, resources, and relationships, with Warner Max utilizing existing Warner Bros. Pictures infrastructure, including physical production. Warner Bros. and New Line Cinema will continue to create mid-budget fare for traditional theatrical distribution, while Warner Max will create a new pipeline for filmmakers looking to make a particular type of film or connect with a specific audience that would be best reached in the streaming environment. The first Warner Max titles will premiere on the service in 2020, and Warner Bros. will be responsible for distribution of these titles in all other media and territories beyond the HBO Max SVOD window.

"From the get-go we have been strategizing with Toby and Carolyn about HBO Max original films," says Kevin Reilly, chief content officer, HBO Max and president, TNT, TBS, & truTV. "We are going to deliver a collaborative and lean process for talent, make a range of quality films, and provide a platform for each of them to have cultural impact. Now, HBO Max will be home to a robust collection of the legendary Warner Bros. film library and a new slate of original WarnerMax films."

"Working with Kevin, Sarah, Jessie and their teams, we're committed to creating dynamic and compelling films that draw on the depth and scope of the creative resources across WarnerMedia," says Toby Emmerich, chairman, Warner Bros. Pictures Group. "We're excited to help make HBO Max a destination for both film-lovers and the creative community, while delivering a win across the entire WarnerMedia organization."

"Warner Bros. Pictures Group has long been the gold standard for filmmaker driven storytelling. We are proud to be in in the features business with them and continue that legacy on our SVOD platform," Sarah Aubrey, head of original content, HBO Max. "Warner Max gives us a special opportunity to continue cultivating this style of rich and diverse storytelling and it couldn't be in better hands than with our head of features, Jessie Henderson, who's built her career in this space."

"It's been great collaborating with our colleagues at HBO Max to take full advantage of our shared strategic advantages and creative expertise to make Warner Max a competitive player in the original SVOD film space from day one," says Carolyn Blackwood, chief operating officer, Warner Bros. Pictures Group.

About HBO Max

HBO Max is WarnerMedia's direct-to-consumer offering debuting in spring 2020. With 10,000 hours of curated premium content anticipated at launch, HBO Max will offer powerhouse programming for everyone in the home, bringing together HBO, a robust slate of new original series, key third-party licensed programs and movies, and fan favorites from WarnerMedia's rich library including Warner Bros., New Line, DC, CNN, TNT, TBS, truTV, Turner Classic Movies, Cartoon Network, Adult Swim, Crunchyroll, Rooster Teeth, Looney Tunes and more. Sign up for updates at HBOMax.com.

About Warner Bros. Pictures Group

Warner Bros. Pictures Group has been at the forefront of the motion picture industry since its inception and continues to be a leading creative force in the industry. Warner Bros. Pictures and New Line Cinema produce and distribute a wide-ranging slate of some 18-22 films each year, employing a business paradigm that mitigates risk while maximizing productivity and capital. Warner Bros. either fully finances or co-finances the films it produces and maintains worldwide distribution rights. It further monetizes its distribution and marketing operations by distributing films that are totally financed and produced by others.

About WarnerMedia

WarnerMedia is a leading media and entertainment company that creates and distributes premium and popular content from a diverse array of talented storytellers and journalists to global audiences through its consumer brands including: HBO, HBO Now, HBO Max, Warner Bros., TNT, TBS, truTV, CNN, DC, New Line, Cartoon Network, Adult Swim, Turner Classic Movies and others. WarnerMedia is part of AT&T Inc. (NYSE:T).