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

Advertisement

Recent Reviews

Moshi iVisor AG and XT for iPad Air 2

Have you ever tried to put in a screen protector that relies on static to cling to the screen? How many bubbles and wrinkles does it h ...

Epson PowerLite Home Cinema 3500 projector

Trying to find the perfect projector for a home theater can be tricky, as there are bountiful options on the market from a large numbe ...

Thecus N2310 NAS

For every computer user, there comes a point of critical mass in data storage. When it hits, external hard drives, USB sticks and DVD ...

Advertisement

toggle

Most Commented

 
toggle

Popular News