AT&T Inc said on Tuesday it was selling its advertising unit, Xandr, to Microsoft , partly exiting a venture that had appeared to become expensive for the telecom company.
Xandr was created in 2018 through the acquisition of an ad exchange and a TV ad tech company to use data collected from phone, internet and TV services to target consumers.
AT&T has spent billions to build a media company, satellite TV provider and an advertising platform all under one roof, but those plans faced investors' criticism as struggled to reduce debt.
"Microsoft can accelerate the delivery of its digital advertising and retail media solutions, shaping tomorrow's digital ad marketplace into one that respects consumer privacy preferences, understands publishers' relationships with consumers and helps advertisers meet their goals,"The deal does not include the advertising sales business supporting DirecTV and is subject to regulatory reviews.Register now for FREE unlimited access to Reuters.
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