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Jun 30, 2021
AT&T Q2 2021 Earnings Report
AT&T announced the sale of its Vrio Corp. business unit to Grupo Werthein and classified Vrio as held-for-sale, resulting in an impairment of $4.6 billion.
Key Takeaways
AT&T has agreed to sell its Vrio Corp. business unit to Grupo Werthein. As a result, AT&T classified Vrio as held-for-sale at June 30, 2021, leading to an impairment of $4.6 billion.
Grupo Werthein will acquire 100% of the equity in Vrio, a digital entertainment services company with 10.3 million subscribers.
The transaction includes Vrio's broadband operations, Torneos y Competencias in Argentina, and WIN Sports in Colombia.
Vrio subscribers will continue to have access to premium content and the same services post-acquisition.
AT&T will provide transition services to Grupo Werthein for one to three years after the transaction closes.