- Confirming earlier reports, WarnerMedia (T -4.2%) has agreed to sell its space at 30 Hudson Yards in West Manhattan for $2.2B.
- The company's selling its space to an affiliate of Related Cos., which is building the $25B Hudson Yards project.
- It has an agreement to lease the space back through early 2034.
- Proceeds will go onto the pile AT&T is building to pay down debt from its Time Warner megadeal.
- Previously: AT&T reports mixed Q1, stronger postpaid adds (Apr. 24 2019)