Holding company Chernin Group announced Aug. 8 that it sold Santa Monica entertainment conglomerate Otter Media Inc. to AT&T Inc.
Sale terms were not disclosed, but the New York Times reported that AT&T’s acquisition cost was north of $1 billion.
The acquisition was pushed back amid litigation over AT&T’s acquisition of Time Warner Inc., which a federal judge approved in June, and is now before a federal appellate court.
Otter Media will provide AT&T digital content. Its assets include Fullscreen, a studio and advertising shop for YouTube stars, streaming channel Rooster Teeth, and online channel company VRV.
Media and entertainment reporter Matthew Blake can be reached at (323)556-8332 or email@example.com