We recently reported on the potential sale of Warner Bros. Interactive Entertainment. Interested parties included Microsoft, EA, Activision, and Take-Two. However, WB Interactive Entertainment may not be for sale anymore.
As reported by Bloomberg, parent company AT&T has decided to remove WB Interactive Entertainment from the list of assets it has for sale. According to Bloomberg’s sources, there was an interested party willing to purchase the game studios for $4 billion, but AT&T decided it wasn’t enough given the growth potential.
It is unclear why WB Interactive Entertainment was taken off the market. It could be that the video game industry has grown exponentially during the pandemic. As the publication notes, it could have also been difficult to sell the business given difficult it may be to disentangle all the gaming licenses.
AT&T gained the rights to WB Interactive Entertainment when they purchased Time Warner Inc. for $85 billion. Unfortunately for the company, this added to the already existing debt. Since then, AT&T has been trying to sell assets in order to reduce debt. WB Interactive Entertainment was apparently one such asset until recently.