As AT&T abruptly pivots from the media business with its somewhat shocking deal to spin off and merge WarnerMedia with Discovery Inc., it's conspicuously holding onto one asset: Xandr.
The advanced advertising unit, formerly known as AppNexus, was purchased by AT&T for $1.6 billion in 2018 as a complementary piece to the $85 billion Time Warner Inc. acquisition, meant to monetize and justify that larger media acquisition.
AppNexus was absorbed into AT&T’s legacy addressable TV business AdWorks, and its core products were rebranded as Xandr Invest (DSP) and Xandr Monetize (SSP), noted AdExchanger, which reported earlier that AT&T was hanging onto Xandr.
Spending on Xandr has reportedly soared of late, driven by connected TV. But AT&T started exploring the sale of the unit last year.
On Monday morning, AT&T announced its intention to spin off WarnerMedia and merge it with Discovery for $43 billion in a combination of cash and debt securities.
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