Warner Executive Meyer Expected to Be Next Chief

Longtime Warner Bros. studio insider Barry M. Meyer has emerged as the clear favorite to inherit the studio’s reins from departing chiefs Bob Daly and Terry Semel, who resigned less than three weeks ago.

Warner sources, however, cautioned that no decision has been made and that, as of the weekend, Meyer still had not been told definitively that he will be given the job. Warner has had no official comment on the speculation.

Meyer is executive vice president and chief operating officer, working directly under Daly and Semel. Warner executives at this point consider it a fait accompli that Meyer will be given an expanded role, probably that of studio chairman.

Gerald M. Levin, chief executive of parent company Time Warner Inc., has played his cards close to the vest on his decision since Daly and Semel abruptly announced they would leave when their contracts expire at the end of the year. Few people have firsthand insight into Levin’s ultimate plans for Warner Bros.’ $10-billion-a-year studio operation. But he has made it clear he favors choosing someone from inside the company to run it.

Well-liked within Warner Bros., the low-profile Meyer, 56, has from the start been considered the most logical choice for a smooth transition. With 31 years at Warner Bros., he is one of the most senior employees at the studio, which in addition to film has vast operations in television, music, retail stores and various other entertainment businesses.

Warner executives expect a new executive structure to be announced before Labor Day. One hurdle is the larger issue of how to restructure the studio, particularly the music division that reported to Daly and Semel. Insiders and analysts expect it to be split off in some way from the oversight of studio executives.

Meyer’s experience is largely in television, where he is credited with being a driving force behind the creation of the WB network. But because he has only limited experience in film, it is expected that Levin also will name a top movie executive under him.

Several Warner insiders have been rumored candidates for that job, with Castle Rock Entertainment Chief Executive Alan Horn the latest to be prominently mentioned. Castle Rock is a production company owned by Time Warner whose leaders report to Warner Bros. executives.

Some executives remain skeptical, however, that Horn would be the choice because his name usually comes up when there is speculation about top studio job openings.

That’s not by accident; supporters often campaign on his behalf. When Seagram Co. bought Universal Studios in 1995, for example, Castle Rock’s publicist called journalists lobbying to get Horn’s name into stories speculating about executives who would be good candidates to run the company.

In addition, Castle Rock’s record has been spotty of late. In the early 1990s, it hit big with such films as “A Few Good Men,” “City Slickers” and “When Harry Met Sally.” It also produced the huge television hit “Seinfeld.”

But after those successes, Castle Rock suffered a drought with such duds as “North,” “City Slickers 2,” “Striptease” and “My Giant.” The company was forced to reduce its staff by half to reduce costs.

The company, which makes about five films a year, is considered to have some promising upcoming features, including “The Green Mile” with Tom Hanks. Castle Rock was founded in 1987 by Horn, director Rob Reiner and executives Martin Shafer, Glenn Padnick and Andy Scheinman.

Early last year, the film division of PolyGram agreed to split Castle Rock’s production, marketing and overhead costs with Warner Bros. PolyGram has since been acquired by Seagram, with Universal assuming its film deals.

Castle Rock has close ties to Time Warner Vice Chairman Ted Turner, who owned Castle Rock through his Turner Broadcasting System before Time Warner acquired his company in 1996.