(Reuters) – Broadband provider AT&T Inc (T.N) is planning a redefined role for Chief Executive Randall Stephenson amid major organizational changes following its $85.4 billion acquisition of Time Warner Inc (TWX.N), Bloomberg reported on Friday.

Stephenson will become executive chairman, overseeing a pair of chief executives who will independently manage the company’s telecommunications and media businesses, the report said, citing people familiar with the matter. bloom.bg/2ukPwC2

AT&T and Time Warner were not immediately available for comment outside regular U.S. business hours.

(The story corrects headline to add source)