AT&T sells Warner Media to sharpen focus on 5G AT&T has u-turned by selling its Warner Media entertainment business to Discovery just three years after acquiring it in the controversial $85bn purchase of Time Warner. This dramatic shift in direction is an attempt to refocus on the core telco business after becoming mired in debt that has deprived the company of capital to invest in its 5G network and keep pace with T-Mobile and Verizon Wireless. This $43bn sale by AT&T is the largest of three recent retreats by US telcos from media and entertainment. Verizon sold its AOL and Yahoo assets for $5bn earlier this month, while T-Mobile closed its T-Vision streaming service in March, in that case after only five months of operation.…