AT&T is in talks to sell WarnerMedia’s celebrity gossip site TMZ to Fox, Deadline has confirmed, in yet another deal paring down the telco’s entertainment assets, one that comes as it prepares to spin off Warner and merge it with Discovery.That $43 billion-deal was announced in late May and may not close until the middle of next year.
Meanwhile, until then, the companies are required to operate separately on a business-as-usual model. For AT&T, that has meant selling off non-core assets to raise fresh cash.
The telecom giant has significant debt to pay down and is making serious investments in spectrum as 5G rolls out — the reason it’s exiting media with the Discovery deal.AT&T sold mobile games studio Playdemic to Electronic Arts for $1.4
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