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AT&T seeks sale for Warner gaming unit, could fetch about $4 billion, sources say
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AT&T seeks sale for Warner gaming unit, could fetch about $4 billion, sources say


Publisher: Warner Bros. Interactive / System: Nintendo DSThis charming handheld game is no longer most effective enjoyable, however may assist your vocabulary. You’ll summon objects to solve puzzles simply by writing what you want (the game has a library that recognizes nearly 23,000 phrases). It starts easy, however will ultimately test your mental prowess. Simplest of all, it never gets boring.

Photo Courtesy: Warner Bros.

AT&T is discussing a sale of its Warner Bros. Interactive Entertainment gaming division in a deal that may find about $4 billion, according to of us familiar with the matter.

Take-Two Interactive Software, Digital Arts and Activision Blizzard have all expressed interest in buying the gaming division, said the of us, who asked no longer to be named because the discussions are private. No deal is assured or imminent, two of the of us said.

Many of the video game titles within Warner Bros. Interactive are tied to Warner-owned intellectual property, including “Harry Potter,” “Game of Thrones” and “The Lego Movie.” The unit also owns the “Mortal Kombat” and the “Scribblenauts” collection. A deal may involve a commercial licensing agreement the place AT&T can continue to get income from its IP, the of us said. 

Spokespeople at AT&T and Take-Two declined to comment. Spokespeople at EA and Activision weren’t immediately available for comment. 

Passe WarnerMedia CEO John Stankey is plight to replace Randall Stephenson as the brand new chief executive officer of AT&T on July 1. Stankey may search for to divest assets after activist hedge fund Elliott Management took at $3.2 billion stake last year, calling for divestitures and leadership changes. Elliott called for AT&T to promote non-core assets including DirecTV, a transaction Stankey hasn’t been in favor of pursuing. Stankey said AT&T is focusing on “a lot of labor around portfolio rationalization” at Morgan Stanley’s Skills, Media & Telecom Conference in March.

AT&T acquired Time Warner for $109 billion in a deal that closed in 2018, and has about $165 billion in debt. Passe Hulu CEO Jason Kilar took over as WarnerMedia’s CEO on May 1. 

WATCH: Chubby interview with incoming AT&T CEO John Stankey

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