AT&T says that they have completed their acquisition of Time Warner and the communications giant now owns CNN, HBO and the other Time Warner properties. 

That means a big demotion for Time Warner CEO Jeff Bewkes. He looses his CEO tag and will now be "a senior advisor during a transition period." 

AT&T exec John Stankey takes over as CEO and Bewkes will now report" to Stankey.

AT&T also says that the Time Warner name will soon be dead and the company says a new name is forthcoming. 

We're thinking that AT&T will be able to do better than "Tenga" or "Tronc" when it comes up with a name. 

Stay tuned....