NEW YORK--(BUSINESS WIRE)--WarnerMedia, an operating company of AT&T (NYSE:T), has signed an agreement with an affiliate of Related Companies to sell its space at 30 Hudson Yards for approximately $2.2 billion. The transaction is expected to close in late second-quarter 2019.
WarnerMedia has an agreement to lease the space at 30 Hudson Yards through early 2034. AT&T will use proceeds from this transaction, along with additional planned sales of non-core assets, to reduce its debt.
AT&T Inc. (NYSE:T) is a diversified, global leader in telecommunications, media and entertainment, and technology. It executes in the market under four operating units. WarnerMedia’s HBO, Turner and Warner Bros. divisions are world leaders in creating premium content, operate one of the world’s largest TV and film studios, and own a world-class library of entertainment. AT&T Communications provides more than 100 million U.S. consumers with entertainment and communications experiences across TV, mobile and broadband services. Plus, it serves nearly 3 million business customers with high-speed, highly secure connectivity and smart solutions. AT&T Latin America provides pay-TV services across 11 countries and territories in Latin America and the Caribbean, and is the fastest growing wireless provider in Mexico, serving consumers and businesses. Xandr provides marketers with innovative and relevant advertising solutions for consumers around premium video content and digital advertising through its AppNexus platform.
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