AT&T has announced that it has acquired all of Otter Media, the joint venture it previously co-owned with The Chernin Group. Otter Media is the digital holding company that operates Crunchyroll’s parent company Ellation, among other video services.
AT&T plans to fold the subscription, advertising and content company into WarnerMedia, the new content company created after AT&T’s acquisition of Time Warner in June 2018. Otter Media CEO Tony Goncalves will continue to run the company.
The Chernin Group acquired a majority stake in Crunchyroll in December 2013. The Chernin Group and AT&T formed the joint venture Otter Media in 2014, and Otter Media invested another US$22 million in Crunchyroll’s parent company Ellation in November 2015.