Dileep Kumar
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MUMBAI: Otter Media, a joint venture between the Chernin Group and AT&T, has bought a majority stake in Fullscreen, a leading multichannel network on YouTube.
Bloomberg values the deal between $200 and $300 million.
Otter was launched by Chernin and AT&T to purchase, launch and manage a new generation of streaming video services. Recently, the joint venture bought craft-oriented video site Creativebug and now it set its eyes on Fullscreen Media to help compete with the likes of Netflix.
Fullscreen invites YouTube creators to partner to enjoy the perks that a larger network can offer.
Videos under Fullscreen’s network bring in over four billion views and have a combined total of 450 million subscribers on YouTube.
Former YouTube executive George Strompolos, who began FullScreen, will continue to run the company and preserve an ownership stake.
Chernin & AT&T buy majority stake in YouTube network Fullscreen | TelevisionPost.com
Bloomberg values the deal between $200 and $300 million.
Otter was launched by Chernin and AT&T to purchase, launch and manage a new generation of streaming video services. Recently, the joint venture bought craft-oriented video site Creativebug and now it set its eyes on Fullscreen Media to help compete with the likes of Netflix.
Fullscreen invites YouTube creators to partner to enjoy the perks that a larger network can offer.
Videos under Fullscreen’s network bring in over four billion views and have a combined total of 450 million subscribers on YouTube.
Former YouTube executive George Strompolos, who began FullScreen, will continue to run the company and preserve an ownership stake.
Chernin & AT&T buy majority stake in YouTube network Fullscreen | TelevisionPost.com
