AT&T takes stake in Otter Media | Media Investment | Business
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AT&T has acquired Chernin Group’s controlling interest in the Otter Media digital media joint venture.

crunchyroll 9 august 20181Otter Media, home to Japanese anime streaming site Crunchyroll, Ellation, Gunpowder & Sky, the Fullscreen studio and Rooster Teeth entertainment, among others, was formed in 2014 as a joint venture to acquire, invest in and launch OTT video services.

While the stated strategic goal of the initiative has been to invest in advertising-based and SVOD streaming offerings. AT&T said at the time that it would also bring its wireline and wireless network resources to the alliance, paving the way for additional revenue via the broadband needed to ensure a good video quality of experience.

With its $85.4 billion Time Warner Inc purchase in June, the company’s content proposition is only getting stronger.

“We look to harness Otter’s expertise in feeding the passion of online audiences to augment our portfolio of digital assets and help us further engage, connect and entertain consumers around the globe,” said AT&T’s WarnerMedia CEO, John Stankey.

The companies did not disclose the amount of its purchase, but some reports pegged the deal as valuing Otter Media at more than $1 billion.

Otter Media CEO Tony Goncalves will continue in that role, reporting to Stankey.