AT&T apparently holding on to Warner Bros. Interactive Entertainment, won’t be sold
There was talk earlier this summer that AT&T was looking into selling off its Warner Bros. gaming business. The company had a new CEO take the helm in July, and activist hedge fund Elliott Management (which took a $3.2 billion stake last year) wanted to see non-core assets be sold. However, it appears there has been a change in heart.
According to Bloomberg, AT&T removed its Warner Bros. gaming business from the list of noncore assets up for sale, as the company determined “it was too valuable to unload during its effort to pay down debt and streamline”. The publication further reports that despite a potential $4 billion deal, “AT&T balked given the business’s growth potential”. Microsoft, Take-Two Interactive, Electronic Arts, and Activision Blizzard had all apparently expressed prior interest.
