former Time Inc. properties having been sold off to new owners. On October 16, 2018, WarnerMedia shut down DramaFever, affecting 20 percent of Warner Bros.' digital networks staff. On March 4, 2019, WarnerMedia announced a planned reorganization that would dissolve Turner Broadcasting System by moving Cartoon Network, Adult Swim, Boomerang, their respective production studios (Cartoon Network Studios and Williams Street), as well as Turner Classic Movies and Otter Media, directly under Warner Bros. (Turner's remaining television services would be divided into WarnerMedia Entertainment and WarnerMedia News & Sports respectively). Aside from Otter Media, these assets operate under a newly formed Global Kids & Young Adults division, renamed on April 7, 2020, to Warner Bros. Global Kids, Young Adults and Classics. On May 31, 2019, Otter Media was transferred from Warner Bros. to WarnerMedia Entertainment to oversee the development of HBO Max, a new streaming service that would feature content from HBO and WarnerMedia brands. Tom Ascheim resigned as president of cable network Freeform to become the president of the Global Kids, Young Adults, and Classics division on July 1, 2020. On November 13, 2019, Warner Bros. unveiled an updated iteration of its shield logo by Pentagram in anticipation of the company's upcoming centennial, which features a streamlined appearance designed to make it better-suited for multi-platform usage and iterations. The company also commissioned a new corporate typeface that is modeled upon the "WB" lettering. Warner Bros. and HBO Max announced the Warner Max film label on February 5, 2020, which was to produce eight-to-ten mid-budget movies per year for the streaming service starting in 2020. However, the label was ultimately discontinued in October 2020 as part of a consolidation of the Warner Bros. Pictures group. In February 2022, Village Roadshow, a co-financier of The Matrix Resurrections, began a lawsuit against Warner Bros. over the hybrid release of the sci-fi sequel. Like all of Warner's 2021 films, the fourth Matrix film was given a simultaneous release on both HBO Max and in theaters due to the COVID-19 pandemic. According to a complaint filed by Village Roadshow, the decision ruined any December box office hopes. In May of that same year, Village Roadshow agreed to arbitration with Warner Bros. over the release of Resurrections. Warner Bros. Discovery Between March 23, 2022 and December 14, 2022, Warner Bros. unveiled two logos and campaigns for its upcoming centennial in 2023, one with the 2019 Warner