Author Bio
Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.
Is a media-heavy telecom giant about to hive off one of its content producers?
On Friday Bloomberg, citing people familiar with the matter, wrote that
AT&T (NYSE:T) is actively searching for potential buyers for Rooster Teeth Productions, part of its WarnerMedia entertainment arm. It was unclear what price the company is aiming to get for the subsidiary, and whether or not there are interested counterparties.
AT&T Considering Sale Of Rooster Teeth, Creator Of Red Vs. Blue And RWBY - Report
Rooster Teeth Productions LLC is part of WarnerMedia, which AT&T acquired in 2016 for $85.4 billion.
AT&T is looking into possibly selling Rooster Teeth Productions LLC, a subdivision of WarnerMedia s Sales and Distribution subsidiary, Bloomberg reports.
Bloomberg s sources, who remained anonymous because the matter is private, said the ongoing coronavirus pandemic has complicated efforts to sell the business. This comes after AT&T spun off DirecTV and other streaming parts of the business in a deal with TPG Capital in February 2021. AT&T did not specify how much it s possibly seeking in the sale of Rooster Teeth, according to Bloomberg.
AT&T is shopping for a buyer for its online media unit Rooster Teeth
Rooster Teeth was part of Otter Media, an early foray into media by Dallas-based AT&T.
Shot in Austin, Rooster Teeth produced a feature film, Lazer Team, that was about four guys who accidentally found a special suit to battle aliens.
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 telecommunications and media 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. It’s unclear how much money AT&T is seeking for the business.