Why it matters: AT&T is hoping to bolster its advertising business to help subsidize Pay-TV losses as more people cut the cord.
Details: The new company will be led by the CEO of its advertising and analytics unit, Brian Lesser, who the company poached from GroupM last year.
- It represents one of four divisions that were created by AT&T upon the acquisition of Time Warner in the summer of 2018.
- It encompasses all aspects of the AT&T's advertising & analytics businesses, including its advanced TV advertising business, and ad network.
- It is built around four pillars: data, premium content, advanced advertising technology and AT&T’s wireless, broadband and video distribution footprint.
- Effective today, all of AT&T's pre-existing ad-related businesses and its recently-acquired ad businesses, like ad tech firm AppNexus, will all be employees of Xandr.
- AppNexus will continue to live on as a brand under Xandr.
About the name: The name "Xandr" (sort of short for Alexander) was inspired by AT&T founder Alexander Graham Bell. AT&T says the hexagonal symbol of its logo was inspired by Bell's tetrahedral kite invention.
The bigger picture: The announcement was made at AT&T's first-ever media, entertainment and advertising conference, which within itself is a testament to its commitment to fully entering the media and advertising space.
- The swanky two-day retreat brings together high-level executives across the industry to discuss the future of advertising and media.