Home / / AT&T considers offloading Warner Brothers gaming unit for a reported $4bn

AT&T considers offloading Warner Brothers gaming unit for a reported $4bn

A number of giants of the gaming world have expressed an interest in acquiring the business unit, according to industry sources

AT&T considers offloading Warner Brothers gaming unit for a reported $4bn

America’s biggest telco, AT&T, is considering selling off a 100 per cent stake in its Warner Brothers gaming unit, to raise cash to fuel its 5G deployment and help it pay down debt.

AT&T has debts of almost $200 billion and is reportedly looking at options to sell off what it regards as non-core assets in order to reduce its debt pile.  

According to a report by US news outlet, CNBC, a number of gaming companies have expressed an interest in acquiring AT&T’s gaming division, which owns a number of highly successful gaming franchises, including Mortal Kombat and the Harry Potter series.

Last year, activist investor Elliott Management acquired a $3.2 billion stake in AT&T and since then has been pushing hard for the company to divest many of its peripheral assets and focus on boosting the company’s share price.

AT&T is in the process of rolling out its 5G networks in the US and is in stiff competition with its competitors Verizon and the newly merged T-Mobile for market share of the US’ fledgling 5G market.

Follow us to get the most comprehensive technology news in UAE delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

CHANNEL AWARD 2018