AT&T plans to acquire all of Otter Media: Report


AT&T plans to acquire all of Otter Media, the video streaming company it owns in partnership with The Chernin Group, sources told Recode. The agreement is expected to be closed this summer (in the Northern Hemisphere).
Otter Media owns platforms such as Crunchyroll, the Anime SVOD service with presence in Latin America, as well as the digital video company FullScreen.
The Recode report said the deal has been in works for a couple of years, but was on hold until AT&T’s Time Warner acquisition closed, according to sources familiar with the companies’ plans.
In turn, the report said that industry observers believe the deal will give the company a valuation of USD 1 billion. AT&T, Otter Media and The Chernin Group declined to comment.
This would not be AT&T’s only content acquisition. Cheddar reported that the U.S telco is in talks to acquire the advertising company AppNexus.
After completing the USD 85.4 billion purchase of Time Warner, AT&T CEO Randall Stephenson told CNBC, “You should expect some smaller, not like Time Warner, but some smaller M&A in the coming weeks to demonstrate our commitment” to ad-supported business models.