INSUBCONTINENT EXCLUSIVE:
Otter Media is no longer a joint venture between ATT and The Chernin Group —ATT announced today that it has acquired The Chernin Group
controlling interest in the digital media company.
Otter Media was founded in 2014 and owns Ellation (which in turn owns anime streamer
Crunchyroll and subscription video service Vrv) and Fullscreen (which owns Rooster Teeth).
It will now become a part of ATT WarnerMedia
unit, which was created with the acquisition of Time Warner
Tony Goncalves, the ATT executive who became Otter Media CEO earlier this year, will continue to run the company.
The New York Times reports
that analysts valued the deal at more than $1 billion.
We are thrilled to incorporate the Otter Media brands and talent into WarnerMedia,&
said WarnerMedia CEO John Stankey in the announcement
&Working with Tony, we look to harness Otter expertise in feeding the passion of on-line audiences to augment our portfolio of digital
assets and help us further engage, connect and entertain consumers around the globe.
ATT says Otter Media has built up an audience of 93
million unique viewers each month and has 2 million paying subscribers.
