AT&T Buys Otter Media for $1B to Expand into Niche Content
AT&T closed their $1 Billion Deal yesterday to acquire Otter Media, the Peter Chernin lead media group.
Otter Media is a conglomerate of streaming services including Crunchyroll (anime), Fullscreen (studio for online creators), Rooster Teeth (videos for gamers), and VRV (video subscription marketplace).
AT&T hopes to pair the acquisition with their other niche video assets like Machinima (for gamers) and Boomerang (cartoon classic). Otter will be overseen by Warner Media Chief, John Stankey.
While it is not known whether Otter Media was profitable, they have over two million paid subscribers which is similar to that of CBS All Access.