AT&T said Monday that it is buying the digital advertising company AppNexus, in an effort to hasten the growth of its new media empire.
AppNexus gives the telecom giant control over one of the world’s largest Internet advertising exchanges, which marketers use to buy ad space from online publishers. It could help AT&T challenge Google and Facebook – the two giants of online advertising — by bolstering its ability to analyze customer behavior and advertise against content produced by Time Warner, now renamed WarnerMedia.
AT&T didn’t disclose the terms of the AppNexus deal, which came days after AT&T completed its landmark merger with Time Warner. AppNexus sought a valuation of $2 billion when it filed confidentially for an IPO in 2016.