US telecoms giant AT&T has apparently removed Warner Bros’ games arm from sale after deciding that it was too valuable to sell.
That’s according to Bloomberg, which reports that the company has opted to not sell Warner Bros Interactive Entertainment after some working at the firm realised its potential for growth.
The firm might also have seen how the games business has soared due to the COVID-19 coronavirus pandemic, with people looking for entertainment as they were ordered to stay at home. Selling the business also seems to have been much more complicated than previously anticipated, with numerous licensing deals to be untangled, particularly for titles with Warner Bros IP attached.
Too good to sell
This also seems to come following a change in leadership at AT&T, with John Stankey taking the CEO position from Randall Stephenson in July of this year.
The news that Warner Bros Interactive Entertainment was up for sale broke in June of this year. AT&T was apparently in discussions with games giants including Microsoft, Take-Two, EA and Activision Blizzard to sell WBIE.
Last month, a statement from the arm’s CEO, Jason Kilar seemed to suggest that WBIE was no longer up for sale anymore.
This story first appeared on PCGamesInsider.biz.
