WarnerMedia Closes Sale of Office Space at 30 Hudson Yards
NEW YORK--(BUSINESS WIRE)--Jun 14, 2019--
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.
AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc. Additional information is available at about.att.com. © 2019 AT&T Intellectual Property. All rights reserved. AT&T, the Globe logo and other marks are trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190614005492/en/
CONTACT: McCall Butler
AT&T Corporate and Financial Communications
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: ENTERTAINMENT TV AND RADIO TECHNOLOGY INTERNET TELECOMMUNICATIONS MOBILE/WIRELESS
SOURCE: AT&T Inc.
Copyright Business Wire 2019.
PUB: 06/14/2019 04:06 PM/DISC: 06/14/2019 04:06 PM