AT&T reportedly in talks to sell Warner Bros. for a goodly amount

AT&T reportedly in talks to sell Warner Bros. for a goodly amount

The entertainment industry is one of the few that had didn’t suffer any setbacks due to the coronavirus pandemic, on the contrary. As more and more people were forced to self-isolate at home, gaming and movie bingeing became the main entertainment activities.

That’s why we’re surprised to learn that AT&T is ready to get rid of its Warner Bros. Interactive Entertainment gaming division. CNBC reports AT&T is already in talks to sell the gaming company for which it hopes to fetch around $4 billion.

Warner Bros. Interactive Entertainment wholly owns important studios like Rocksteady Studios (Batman: Arkham series), NetherRealm Studios (Mortal Kombat series), Monolith Productions (Middle-earth series), Avalanche Software (Cars series), WB Games Montreal, TT Games (LEGO series), and WB Games San Francisco.

According to sources familiar with AT&T’s plans, the company wishes to continue to receive revenue from its IPs (Harry Potter, Game of Thrones, Mortal Kombat, etc.) even after selling the gaming division, which means the deal might involve some kind of “commercial licensing agreement.”

Three gaming industry giants have shown interest in the acquisition – Take-Two Interactive Software, Electronic Arts, and Activision-Blizzard, but neither confirmed the information yet. Still, sources claim that it’s just a matter of time before the deal is done as discussions are well underway.

Source: Phonearena


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