Sources told CNBC that AT&T is planning to sell its gaming division, Warner Bros. Interactive Entertainment for $4 billion.
WBIE, founded in 2004, owns studios such as TT Games, Rocksteady Studios, NetherRealm Studios, Monolith Productions, WB Games Boston, Avalanche Software, WB Games Montréal, and WB Games San Francisco.
Sources also told CNBC there are a few companies interested in purchasing WBIE, such as Activision Blizzard, Electronic Arts and Take-Two Interactive.
The many studios belonging to WBIE have worked on various titles based on exclusive rights and intellectual properties owned by Warner Bros. film and animation divisions.
Mortal Kombat, the fighting game franchise that started back in 1992, may be what the mentioned companies are after.
If AT&T’s WBIE gets sold, it may have to work on a deal so that the company can still get revenue from the use of its intellectual properties in games.
And, the reason of the sale of WBIE? CNBC says upcoming AT&T CEO John 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.”
AT&T purchased Time Warner for $109 billion in 2018.
[Source]: CNBC: AT&T seeks sale for Warner gaming unit, could fetch about $4 billion, sources say.
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