Raising a Stank

AT&T head: My choice has the chops

AT&T chief Randall Stephenson defended his decision to pick a controversial insider as his successor, days after billionaire Paul Singer’s activist hedge fund questioned the move.

Facing criticism over his decision this month to promote John Stankey, the divisive boss of AT&T’s entertainment unit, WarnerMedia, to the role of operating chief, Stephenson said Tuesday the move was central to the company’s strategy.

“It was a very short list, and John Stankey quickly rose to the top,” the chief executive said at a media conference hosted by Goldman Sachs in New York.

As reported by The Post, Stephenson’s No. 2 has bulldozed the executive structure at WarnerMedia, formerly known as Time Warner, since AT&T acquired the company last year. Top execs like HBO CEO Richard Plepler and Turner President David Levy have left the division since Stankey took the helm.

But Stephenson said his wingman has been “breaking down silos” in the company as it gets ready to launch HBO Max, AT&T’s streaming service, which is meant to compete with Netflix and streaming services from Amazon, Disney, Apple and others.

HBO Max is in the process of beefing up its lineup and inked a multimillion-dollar five-year deal for the exclusive rights to stream “The Big Bang Theory.” Recently, the company shelled out $425 million for “Friends.”

Stephenson’s response came a week after Singer’s hedge fund, Elliott Management Corp., revealed a stake in the Dallas-based telecom firm and called for it to consider dumping several businesses it has taken on over the last five years, such as DirecTV.

Stephenson, who has been CEO for 12 years, didn’t address the succession plan but he did offer that Stankey has the media credentials, and said if he is able to turn HBO Max into a success, he is in good standing to take his job.

“Is he the heir apparent? The board hasn’t informed me I’m retiring yet,” Stephenson said. “If Stankey executes this plan, he’s well positioned.”