AT&T, Warner Bros. Interactive Entertainment’s (WB Games) parent company, has changed its mind. Instead of selling its high-valued gaming unit, AT&T plans to hold onto WB Games for the foreseeable future.
According to sources who spoke to Bloomberg on the condition of anonymity because the information is still private, AT&T has removed WB Games from its list of non-core assets to sell off. The sale was initially sparked by AT&T looking to streamline its subsidiaries and pay off mounting debt, but the company has since realized WB Games’ potential, shrugging off the prices the division was attracting.
WB Games consist of studios like Avalanche Software (Cars 3: Driven to Win), NetherRealm Studios (Mortal Kombat 11), Rocksteady Studios (Batman: Arkham Knight), WB Games San Francisco (Harry Potter: Wizards Unite), and a few others. The newest titles attached to WB Games are Gotham Knights and Suicide Squad: Kill The Justice League, which are launching in 2021 and 2022, respectively.
Since the announcement that AT&T was looking to sell WB Games in June 2020, a bevy of companies has expressed interest in the prolific gaming division. This includes Activision, Electronic Arts, Microsoft, and Take-Two Interactive, among others. The sale could have fetched a $4 billion price tag.
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