The telecoms giant is reportedly looking to offload HBO's long-running European operations to reduce at debt of $170 billion.


AT&T is discussing selling the HBO's European networks in an attempt to reduce $170 billion of debt, according to reports.


The Financial Times on Wednesday reported that HBO Europe – a group of channels that operate across much of the continent – was one of assets that the telecoms giant was considering offloading, citing multiple people familiar with the matter.


WarnerMedia denied the news.


“We normally do not comment on speculation, but when a news outlet is advised that their reporting is factually incorrect and report it anyway, we feel compelled to set the record straight," said CEO John Stankey in a statement . "There is no truth whatsoever to the Financial Times’ story saying AT&T is or has considered selling HBO Europe. It’s completely baseless and inaccurate. HBO Europe is a valuable asset for our growth plans in Europe."


With around 200 employees, HBO Europe – which was originally launched in 1991 – has an estimated 10 million subscribers across countries including Spain, Hungary, Poland, Serbia, Denmark and Norway.


Alongside distributing HBO shows such as Game of Thrones and The Sopranos, since 2010 it has also moved into producing its own premium local-language content, and is a well-established rival to Netflix in many territories.


Recently announced titles include Foodie Love, the small screen debut for Spanish director Isabel Coixet, and the Swedish-language adaptation of Beartown, based on the bestselling book by A Man Called Ove writer Fredrik Backman.


In the U.K., Germany and Italy, HBO licenses its content exclusively through Sky, whose new owners Comcast are thought to be a well-suited buyer.