AT&T is reportedly discussing a sale of its Warner Bros. Interactive Entertainment gaming division, according to numerous reports. The deal could come in around the $4 billion mark and could have a licensing component that would still generate revenue from the intellectual property.
Reducing debt is the goal of any deal. Warner Bros. Interactive titles are largely tied to Warner-owned intellectual property, including Harry Potter, Game of Thrones and The Lego Movie, but includes the Mortal Kombat and the Scribblenauts series.
Among the rumored suitors are Take-Two Interactive Software, Electronic Arts, and Activision Blizzard.
Spokespeople at AT&T declined to comment. The company will have John Stankey as its new CEO as of July 1, replacing Randall Stephenson. The new CEO enters with a mandate to divest properties and reduce debt.
AT&T acquired Time Warner for $109 billion in a 2018 deal and has about $165 billion in debt.