Warner Bros. Games is no longer up for sale and is said to be “too valuable”, according to a new report.
Back in June, American multinational AT&T – the parent company of various Warner Bros-branded video game studios – said it was looking to sell Warner Bros. Games to pay off outstanding debts. At the time, the studio had attracted interest from companies such as Microsoft, Activision and EA.
However, according to a new report from Bloomberg with people familiar with the situation, the studio is no longer up for sale as it has 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.
Warner Bros. Games could have potentially been sold for $4billion, according to Bloomberg, thanks to its various popular franchises such as Batman: Arkham, Mortal Kombat, Injustice and more.
The report also suggested that the ongoing coronavirus pandemic, which has inadvertently boosting gaming sales, could have been a factor for AT&T to withdrawal the studio from sale. Analysts have also 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.