The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
AT&T Inc is seeking buyers for Rooster Teeth Productions LLC, a piece of its WarnerMedia division, as part of an ongoing winnowing of noncore assets by the phone giant, according to people familiar with the matter.
The pandemic has complicated efforts to sell the business, said the people, who asked not to be identified because the matter is private. Rooster Teeth canceled its annual RTX convention last year in Austin, Texas. And in June, co-founder Burnie Burns, who served as chief executive officer, left the company. It wasn’t clear how much money AT&T is seeking for the business.
The phone company has been paring assets to focus on a key areas, including its new 5G wireless business, which requires billions of dollars of investment. AT&T also is expanding its fiber-optic footprint and boosting movie and TV production to attract subscribers to HBO Max, the new streaming service run by WarnerMedia.