AT&T Inc. agreed to sell its Xandr division to Microsoft Corp., a long-expected divestiture after the carrier decided digital advertising wasn’t central to its operations.
The deal is valued at about $1 billion, according to people familiar with the matter who asked not to be identified discussing nonpublic information.for Xandr for more than a year after giving up on its dream of becoming a major player in online ads — an area in which tech companies such as Google and Facebook dominate.to a joint venture with TPG, and its WarnerMedia unit is slated to merge with Discovery Inc. and become a new independent company.
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