AT&T Inc. has removed its Warner Bros. video-game business from the list of noncore assets up for sale, deciding it was too valuable to unload during its effort to pay down debt and streamline, according to people familiar with the situation.

Warner Bros. Interactive Entertainment, the gaming unit that is home to titles like Harry Potter: Wizards Unite and Mortal Kombat 11, had attracted interest from several major companies and could have reaped US$4 billion, as reported by CNBC in June. But AT&T balked given the business’s growth potential, said the people, asking not to be identified because the information is private.

AT&T began working with LionTree Advisors earlier this year to explore a potential sale of the business, according to two of the people familiar with the matter. AT&T declined to comment.

The decision to abandon the sale came amid a turnover in senior leadership at AT&T. In July, Chief Operating Officer John Stankey took over as chief executive officer after Randall Stephenson left that role, remaining chairman.