Topics

AT&T
Chernin Group-AT&T venture to invest $500 million in online video
Chernin Group-AT&T venture to invest $500 million in online video

The Chernin Group and AT&T have formed a venture to invest more than $500 million in online video services, increasing their reach in a rapidly expanding market that competes with traditional television channels. Chernin Group, run by the former Fox president Peter Chernin, is contributing to the new venture its majority stake in Crunchyroll, a subscription video-on-demand service that specializes in Japanese animation known as anime. In announcing the venture Tuesday, the two companies did not identify what properties they might want to buy. The goal, they said, was to invest in advertising and subscription video-on-demand channels and streaming services. FACES TO WATCH 2014:...

Loading