Printed from http://www.electronista.com

The Chernin Group, AT&T partner for media streaming effort

updated 04:13 pm EDT, Tue April 22, 2014

Chernin dumps $500 million into partnership's unknown project

AT&T is partnering with The Chernin Group, with the latter pouring $500 million into an effort to distribute Internet-based video services. What exactly AT&T and Chernin will produce as a result isn't clear, but premium services like Netflix are suspected. The terms of the deal have not yet been announced. Chernin's group focuses on developing premium content for film and television, making investments in technology and media companies in the US, and capitalizing on strategic business opportunities in emerging markets.

"AT&T's massive reach on those platforms across mobile and broadband and their commitment to the online video space make them the perfect fit for this venture with us," Peter Chernin said of the deal. "I think there is a limitless potential playing field."

The Chernin Group's assets include Chernin Entertainment, a majority stake in CA Media, and several strategic investments in US-based technology and media companies including Crunchyroll, Pandora, Fullscreen, Tumblr, and Flipboard.

"We intended to put a significant amount of money into making a significant play in this space," said John Stankey, AT&T's chief strategy officer. "We are very interested in gaining scale in the content space"



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Tylt Energi 2K Travel Charger

Backup batteries and device chargers are objects that many users take for granted. They often only one dimensional, restoring the batt ...

ActvContent Sync Smartband

Smartbands of all sorts are hitting the market. Some build on the buzz around fitness trackers, while others offer simpler features fo ...

RocketStor 6324L Thunderbolt 2 eSATA bridge

Like it or not, the shift to Thunderbolt is underway. The connection is extremely flexible, allowing for video and data to co-habitate ...

Sponsor

toggle

Most Commented

 
toggle

Popular News