AT&T Inc is exploring a sale of its advertising unit Xandr, according to a person familiar with the matter.
The discussions come as AT&T’s new chief executive, John Stankey, reviews the conglomerate’s assets in a possible bid to reduce debt by selling off some noncore holdings.
The talks about selling Xandr are in the early stages and may not necessarily result in a sale. The company intends to keep Crunchyroll, the popular anime streaming site, as it fits its content strategy, the source added.
AT&T declined to comment. Shares of the company were down 1.3% at midday on Tuesday.
The Wall Street Journal first reported the potential sale earlier on Tuesday.
AT&T launched Xandr in 2018 after buying ad tech firm AppNexus for $1.6 billion to offer partners a better way to target ads at consumers using data collected from phone, internet and TV services.
Ad agency executives who spoke with Reuters earlier this year have viewed Xandr’s progress as slow, citing few new product offerings for advertisers since its launch.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
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