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Warner Bros. Interactive Entertainment no longer for sale - Report

Sources tell Bloomberg the publisher behind Mortal Kombat, Batman, and Lego franchises was seen as having too much growth potential to sell

Warner Bros. Interactive Entertainment is off the auction block, according to Bloomberg.

The outlet is citing people familiar with the situation for the news that AT&T has removed its video game division from its list of non-core assets up for sale.

Warner Bros. Interactive Entertainment publishes a number of significant gaming properties, including Mortal Kombat, the Batman Arkham franchise, and numerous Lego brand crossovers like Lego Star Wars.

The first reports that AT&T would consider selling its gaming operation surfaced in June, with a potential price tag of $4 billion and Take-Two, Electronic Arts, and Activision Blizzard floated as potential buyers. Microsoft would later be reported to show interest as well.

As for why AT&T is no longer entertaining a sale, the company felt WBIE had too much growth potential to part with.

Other factors mentioned included optimism about the prospects of WBIE's next Harry Potter game, the boost the gaming industry has seen in light of the COVID-19 pandemic, and a July change in management that saw AT&T COO John Stankey take over as CEO.

AT&T acquired WBIE parent Time-Warner in 2018 for $108.7 billion, when including Time-Warner's net debt in the cost.

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