Earlier today at the Vanity Fair New Establishment Summit in Los Angeles, WarnerMedia CEO John Stankey announced the company's plan to launch a new direct-to-consumer streaming service in the fourth quarter of 2019.

WarnerMedia CEO John Stankey with Aaron Ross Sorkin at the Vanity Fair New Establishment Summit

The announcement of the service delivers on the promise of the AT&T/Time Warner merger, which was finalized in June.

One of the chief benefits of an ATT/Time Warner combination is the ability to create new consumer choices taking advantage of the unmatched options, value, quality and experience of the two companies.  Only four months after the deal's close, WarnerMedia has the momentum to deliver on that vision.

"This new WarnerMedia offering will bring audiences a product that doesn’t exist in the market today," said Stankey.  "And no other company can offer these brands to consumers the way that we will."

The service will build on the success of products like HBO Now, Stankey told summit attendees, but WarnerMedia's existing distributor relationships remain vital.

Going direct-to-consumer offers an additional opportunity to reach audiences that aren't part of a traditional subscription service, Stankey said, but it will be a priority to work with partners to deliver a compelling and competitive product that complements the company's wholesale distribution, allowing WarnerMedia to reach the largest number of viewers.

Watch this space for more news about WarnerMedia's direct-to-consumer offering as it becomes available.