AT&T acquires full ownership of Otter Media

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AT&T announced that it has acquired The Chernin Group’s controlling interest in Otter Media, the joint venture between the two companies. It will be a part of AT&T’s WarnerMedia unit, which was created after the close of the Time Warner acquisition.
Otter Media is a leading subscription, advertising and content company. It comprises wholly-owned subsidiaries Ellation – an online subscription video service provider that operates the anime-focused SVOD platform Crunchyroll, with presence in Latin America – and full-service digital media company Fullscreen, among others.
AT&T and The Chernin Group founded Otter Media in 2014 to invest and develop platforms and properties that capitalized on the growth of direct-to-consumer subscription and advertising models, as well as the rise of new digital media brands, said the telecom company in a release.
In four years, the company has established a global audience of more than 93 million unique monthly consumers and is on pace to deliver over 75 billion video views this year. Additionally, the company is one of the top-ten subscription video on demand (SVOD) providers with more than 2 million paying SVOD subscribers.
The terms of the deal were not disclosed, but AT&T said it did not have a material effect on the company’s first-half 2018 results when the majority of the deal was funded.
Terry Li, Vice President at Ellation and General Manager of International Markets for Crunchyroll, will participate as speaker in the next edition of NexTV CEO Latin America, the leading conference, to be held on November 1 and 2 in Miami.