The WarnerMedia and Discovery proposed merger ends AT&T’s $85-billion bet on becoming a major TV player. But the telecommunications giant still has to grapple with the future of another multibillion-dollar business unit.
AT&T bought AppNexus, a preeminent name among early ad-tech companies, for $1.6 billion in June 2018. Out of that came Xandr, a full ad-tech stack that was supposed to power the ad businesses of WarnerMedia and AT&T-owned DirecTV while still working with marketers to buy and serve ads across competitive media properties.
But
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