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Warner Bros. Games is no longer up for sale and has said to be “too valuable” according to a new report.
Back in June, AT&T – the parent company who owns Warner Bros‘ various gaming studios – was looking to sell Warner Bros. Games to pay off outstanding debts, and was said to have attracted interest from companies such as Microsoft, Activision and EA at the time.
According to a new report from Bloomberg with people familiar with the situation, this is no longer the case as it’s reportedly been deemed “too valuable to unload during its effort to pay down debt and streamline”. The report stated that the decision came amid a leadership change within the company during July, after chief operating officer John Stankey took over as chief executive officer.
It’s said that the company could have potentially been sold for $4billion, but due to recent announcements the idea of selling has been scrapped in favour of potential growth with the promise of multiple next-gen games.
Bloomberg suggested that the ongoing coronavirus pandemic causing more people to stay at home and boosting gaming sales could have been a factor, and that analysts have pointed out possible licensing complications that would come with selling the gaming division.
Recently, Warner Bros. Games announced it was working on two new DC related games, with Gotham Knights and Suicide Squad: Kill The Justice League. It’s also been reported that the company is working on an open-world Harry Potter game, however no official word has been made about the project.
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