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AT&T is looking to sell for Warner’s gaming unit, potentially earning $ 4 billion



Publisher: Warner Bros. Interactive / System: Nintendo DSTA catchy handheld game is not only fun, but can help your vocabulary. You will call things to solve puzzles just by writing what you want (the game has a library that recognizes nearly 23,000 words). It starts out easy, but will ultimately test your mental courage. Best of all, it doesn’t get boring.

Photo Courtesy: Warner Bros.

AT&T is talking about selling Warner Bros. Interactive Entertainment division is in a deal that could earn $ 4 billion, according to people familiar with the matter.

Take-Two Interactive Software, Electronic Arts and Activision Blizzard have all expressed interest in buying the gaming division, people said, requesting anonymity because the discussions were private. Uncertain or imminent, two people said.

Many of the video game titles are within Warner Bros. Interactive is tied to Warner̵

7;s intellectual property, including “Harry Potter,” “Game of Thrones” and “The Lego Movie.” The unit also owns “Mortal Kombat” and the “Scribblenauts” series. A deal could be involved in a commercial licensing agreement where AT&T could continue to earn revenue from its IP, people said.

Spokesmen at AT&T and Take-Two declined to comment. Spokesmen at EA and Activision were not immediately available for comment.

Former WarnerMedia CEO John Stankey is set to replace Randall Stephenson as AT&T’s new chief executive officer on July 1. Stankey could look to take over the assets after hedge fund activist Elliott Management raised $ 3.2 billion stake last year, calling for divestitures and leadership changes. Elliott called for AT&T to sell non-core assets including DirecTV, a transaction Stankey did not favor in the pursuit. Stankey said AT&T was engaged in “a lot of work around portfolio rationalization” at the Technology, Media & Telecom Conference at Morgan Stanley in March.

AT&T acquired Time Warner for $ 109 billion in a deal that closed in 2018, with $ 165 billion in debt. Former Hulu CEO Jason Kilar took over as CEO of WarnerMedia on May 1st.

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


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