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
