CEO of AT&T ad unit Xandr resigns

Brian Lesser, chief executive of AT&T Inc advertising unit Xandr, has resigned, according to a source familiar with the matter, raising questions about the future of its advanced advertising strategy. A spokesman for AT&T declined to comment. Lesser was not immediately reachable.

Lesser had interviewed for the CEO role at WarnerMedia, AT&T's media unit, but received an indication that he would not be selected, the source said. A replacement is not yet known. AT&T has spent a combined $134 billion on satellite TV provider DirecTV and media company Time Warner to take on Netflix Inc and craft a digital and TV advertising strategy that would make use of the combined companies' assets.

The company launched Xandr in 2018 to offer partners a better way to target ads to consumers using data collected from phone, internet and TV services.

Lesser felt comfortable stepping down because Xandr is in a good position and its first quarter results are expected to show significant growth, the source said. On Wednesday, Xandr launched a TV ad-buying tool in partnership with Walt Disney Co, AMC Networks and WarnerMedia.