AT&T is looking to sell Warner Bros Interactive Entertainment for $4 billion. Executives from Electronic Arts, Activision Blizzard and Take-Two Interactive Software and Electronic Arts has unofficially expressed interest in acquiring the gaming division of Warner Bros. as reported by CNBC.
Warner Bros. Interactive Entertainment hold the licensing rights for develop movie based games, such as: Game of Thrones, The Lego Movie and Harry Potter.The large gaming division also holds the right of Mortal Kombat and Scribblenauts.
Former WarnerMedia CEO John Stankey is set to replace Randall Stephenson as the new chief executive officer of AT&T on July 1. Stankey may look to divest assets after activist hedge fund Elliott Management took at $3.2 billion stake last year, calling for divestitures and leadership changes.
Elliott called for AT&T to sell non-core assets including DirecTV, a transaction Stankey hasn’t been in favor of pursuing. Stankey said AT&T is focusing on “a lot of work around portfolio rationalization” at Morgan Stanley’s Technology, Media & Telecom Conference in March. AT&T acquired Time Warner for $109 billion in a deal that closed in 2018, and has about $165 billion in debt. Former Hulu CEO Jason Kilar took over as WarnerMedia’s CEO on May 1.
Warner Bros Interactive Entertainment was founded in January 2004, it wholly owns studios TT Games, Rocksteady Studios, NetherRealm Studios, Monolith Productions, WB Games Boston, Avalanche Software, WB Games Montréal, and WB Games San Francisco.