In June last year AT&T, to lay off some of their debt, were trying to find ways to let go certain procured assets which weren’t of high priority. After having been reported of wanting to sell of parts of its gaming division for the same reasons, AT&T are now officially letting go of portions of the assets acquired by Time Warners.
This was made possible due to a newly struck deal of a merger between Warner Media and Discovery of $43 billion.
The two companies have decided to combine their assets and create a company which will make its way towards being the competitors of companies like Disney.
It hasn’t yet been made clear as to which parts and studios will be sold to the new company or which ones AT&T will keep themselves.
Warner Bros. Interactive includes 11 different game studios.
However, the new company which will be led by Discovery CEO, David Zaslav, will apparently to some lengths partially own DC Comics and the rights to all of its IP.
This merger reportedly allows for AT&T to clear part of its debt of almost $200 billion.
Discovery, to establish itself as a competition amongst the other streaming platforms and companies, decided to co-own quite o few valuable IP by buying in on this merger.