AT&T announced on Tuesday that it has acquired The Chernin Group’s controlling interest in Otter Media, the joint venture and holdings company that included Ellation (Crunchyroll and VRV brands), and Fullscreen, the full-service digital media company that owns the Rooster Teeth brand.
AT&T has acquired the company with the plan to fold Otter Media into AT&T’s WarnerMedia, the newly formed content company that’s home to HBO, Turner, and Warner Bros.
“We are thrilled to incorporate the Otter Media brands and talent into WarnerMedia,” said John Stankey, WarnerMedia CEO. “Working with Tony, 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.”
Analyst valued the deal at more than $1 billion USD as AT&T goes on a hunt for owning content and distribution sources.
The Chernin Group acquired a majority stake in Crunchyroll in December 2013 for less than $100M and soon after formed Otter Media with AT&T investing another $22 million into Crunchyroll in November of 2015.
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