Turner Broadcasting prepares for staff buyout offers amid bigger changes ahead

Time Warner and Vice Media.

Martin, who took over as Turner CEO in January, outlined his plans for the initiative dubbed “Turner 2020” in a lengthy memo to staffers sent on Aug 19. Here’s the memo:

In early June, I described to you one important component of our plan to maximize performance across the entire company, employing an initiative we are calling Turner 2020. In July, we posted a conversation on MyTurner in which I talked about the strategic case for Turner 2020, my expectations for the process and how I believe it will fuel new energy, growth and leadership for and across Turner Broadcasting.

Today, I want to update you on our progress and the timing of important next steps. The 2020 work thus far has been comprehensive and thoughtful. A core team of our colleagues has looked at the purpose, structure and fit of literally every department in the company—more than 700 in all. At the same time, they have researched competitive marketplace practices to understand how other companies— some in our space, and others who like us hold industry-leadership positions— are built and manage wide-ranging work in complex environments. Those benchmarks have been applied to our company to help build recommendations that will move us closer to our long-term goals for Turner.

Division leaders now are reviewing the working groups’ reports on their respective areas of oversight. Over the coming weeks, they will work with me to finalize the organizational changes we will implement. Our plan is to begin communicating in the next two months both general and specific changes we will make to structures, models and roles. You’ll see more information and updates on our progress. Resetting our business operations through the balance of 2014 will position us to move forward aggressively in the new year. (RTRS)