AT&T (NYSE: T) has acquired The Chernin Group´s controlling interest in Otter Media, the joint venture between the two companies, the company said.
Otter Media, a subscription, advertising and content company, comprises wholly owned subsidiaries Ellation, an online subscription video service provider, with offerings under the Crunchyroll and VRV brands, as well as a full-service digital media company, Fullscreen, and its Rooster Teeth brand. Otter also has ownership stakes in global content studio Gunpowder & Sky, as well as Hello Sunshine, a media company founded by Reese Witherspoon.
Otter Media will be a part of AT&T´s WarnerMedia unit and Tony Goncalves, who was appointed Otter CEO earlier this year, will continue to run the company, reporting to WarnerMedia CEO, John Stankey.
AT&T is a diversified, global provider of telecommunications, media and entertainment, and technology. It executes in the market under four operating units. WarnerMedia´s HBO, Turner and Warner Bros. divisions are world leaders in creating premium content, operate the world´s largest TV and film studio, and own a world-class library of entertainment.