- December 22, 2021
- Posted by: Stratford Team
- Category: Business
AT&T Inc. agreed to sell its Xandr division to Microsoft Corp., a long-anticipated divestiture after the carrier decided digital advertising wasn’t central to its operations.
The transaction gives customers on Microsoft’s properties, such as MSN, access to Xandr’s marketplace for automated online advertising, the companies said Tuesday in a statement that didn’t disclose financial terms.
The deal is valued at about $1 billion, according to people familiar with the matter who asked not to be identified discussing non-public information.
AT&T has been seeking a buyer for Xandr for more than a year after giving up on its dream of becoming a major player in online ads — an area where tech companies such as Google and Facebook dominate.
The sale is part of a broader portfolio reshuffling after AT&T shifted its DirecTV operations to a joint venture with TPG, and its WarnerMedia unit is slated to merge with Discovery Inc. and become a new independent…
