AT&T Inc said on Tuesday it was selling its advertising unit, Xandr, to Microsoft, partly exiting a venture that had appeared to become expensive for the telecom company.
AT&T has spent billions to build a media company, satellite TV provider and an advertising platform all under one roof, but those plans faced investors’ criticism as struggled to reduce debt.
The telecom company expects its pending $43 billion deal to combine WarnerMedia’s media assets with Discovery Inc to close by the middle of 2022.
Read more/Source: Reuters
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.