NEW YORK--(BUSINESS WIRE)--WarnerMedia, an operating company of AT&T Inc.*, announced today that it has completed the sale-leaseback of its premises at 30 Hudson Yards to a consortium for approximately $2.2 billion. The company announced its initial agreement to sell these assets in April 2019.
WarnerMedia’s lease at 30 Hudson Yards runs through early 2034. AT&T will use proceeds from this transaction, along with other planned sales of the company’s 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 is a leading media and entertainment company that creates and distributes premium and popular content to global audiences through its consumer brands including: HBO, Warner Bros., TNT, TBS, truTV, CNN, DC Entertainment, New Line, Cartoon Network, Adult Swim, Turner Classic Movies and others. 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 more than 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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