AT&T In Talks To Acquire Chernin Group’s Stake In Otter Media (Report)

AT&T is reportedly in talks to acquire Otter Media, a joint venture that the telecommunications giant formed  in 2014 to create and purchase digital brands alongside noted media executive Peter Chernin’s investment firm, The Chernin Group (TCG).

AT&T is looking to scoop up several of its joint ventures amid a proposed $85 billion bid for entertainment conglomerate Time Warner, reports The New York Post. AT&T also holds stakes in the MLB Network, the NHL Network, and the Game Show Network. Otter’s portfolio includes Fullscreen, how-to site Creativebug, anime streaming platform Crunchyroll, indie production company Gunpowder & Sky, and Reese Witherspoon’s female-facing Hello Sunshine video platform.

The Post reports that as AT&T is in talks to acquire TCG’s stake in Otter, it wants to remain in close ties with Chernin, who in the past has been rumored to be joining AT&T in a corporate role — though he has vehemently denied these reports.

AT&T’s acquisiton of Time Warner, announced last October, could close this year, though Justice Department officials are still weighing the legality of the deal.