AT&T acquires Chernin Group’s Stake in Otter Media

American multinational telecommunication giant, AT&T has fully acquired Chernin Group’s controlling interest in their joint venture, Otter Media. Otter Media, a subscription, advertising and content company constitutes fully-owned subsidiaries Ellation, an online SVOD provider and a full-service digital media company, Fullscreen, and its Rooster Teeth brand. Otter Media has ownership stakes in Hello Sunshine and Gunpowder & Sky, a global content studio.

At&T and The Chernin Group in 2014 founded Otter Media to invest and develop subscription on demand platforms and properties that capitalized on growth of advertising models and direct-to-consumer subscription.

John Stankey, CEO, WarnerMedia quoted, “We are thrilled to incorporate the Otter Media brands and talent into WarnerMedia. 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.”