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AT&T and Chernin Group Commit $500 Million to Take on Netflix

AT&T and media investment firm The Chernin Group are putting up $500 million for creation and development of video streaming services. The companies would look “to acquire, invest in and launch” so-called over-the-top (OTT) services that provider consumers with online content. The strategic goal of this initiative will be to invest in advertising and subscription VOD channels as well as streaming services.

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Read the entire story here.

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