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                            <title><![CDATA[ Latest from Next TV in The-chernin-group ]]></title>
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        <description><![CDATA[ All the latest the-chernin-group content from the Next TV team ]]></description>
                                    <lastBuildDate>Tue, 02 Oct 2018 14:26:20 +0000</lastBuildDate>
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                                                            <title><![CDATA[ Chernin Group Takes of Control Steven Rinella’s MeatEater Inc. ]]></title>
                                                                                                                                                                                                <link>https://www.nexttv.com/news/chernin-group-takes-control-steven-rinellas-meateater-inc</link>
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                            <![CDATA[ Chernin Group Takes of Control Steven Rinella’s MeatEater Inc. ]]>
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                                                                        <pubDate>Tue, 02 Oct 2018 14:26:20 +0000</pubDate>                                                                                                                                                                                                                                <category><![CDATA[Technology]]></category>
                                                                                                <author><![CDATA[ daniel.frankel@futurenet.com (Daniel Frankel) ]]></author>                    <dc:creator><![CDATA[ Daniel Frankel ]]></dc:creator>                                                                <dc:description><![CDATA[ http://cdn.mos.cms.futurecdn.net/7wBJVmzcn7E9PQZWPFQsH7.jpeg ]]></dc:description>
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                                <p>The Chernin Group has purchased a controlling stake in MeatEater Inc., the Bozeman, Montana-based company behind Netflix’s popular outdoors- and hunting-themed series starring Steven Rinella.</p><p>Chernin has not disclosed how much it’s paying for the company, which also produces a podcast with Rinella.</p><p><a href="https://www.nexttv.com/news/otter-media-ceo-names-senior-exec-team-418231" data-original-url="https://www.multichannel.com/news/otter-media-ceo-names-senior-exec-team-418231">Related: Otter Media CEO Names Senior Exec Team</a></p><p>In addition to content featuring Rinella, MeatEater Inc. also backs content built around April Vokey, a fly fishing guide and host of the <em>Anchored with April Vokey</em> podcast. Meanwhile, Hunter Mark Kenyon hosts the <em>Wired to Hunt</em> podcast, and wild food chefs Eduardo Garcia and Ben O’Brien host of <em>The Hunting Collective</em> podcast.</p><p>Netfllix, of course, doesn’t release metrics on how many people watch Rinella’s show. But Chernin says the outdoor hunter-angler market is worth $80 billion a year, with more than 40% of Americans over the age of 16 participating.</p><p>“With a passionate audience of Steven Rinella fans, a large addressable market of sporting enthusiasts, and a broad societal acceptance of the merits of conservation and responsible food procurement, MeatEater is poised to be a transformative brand,” said Jason Bergsman, Executive Vice President of The Chernin Group. “Steven Rinella and Kevin Sloan are the right partners to build a great business in this space.”</p>
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                                                            <title><![CDATA[ AT&T Nearing Deal to Buy All of Otter Media: Report ]]></title>
                                                                                                                                                                                                <link>https://www.nexttv.com/blog/at-t-nearing-deal-buy-all-otter-media-report</link>
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                            <![CDATA[ AT&T Nearing Deal to Buy All of Otter Media: Report ]]>
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                                                                        <pubDate>Wed, 20 Jun 2018 17:45:56 +0000</pubDate>                                                                                                                                                                                                                                <category><![CDATA[Distribution]]></category>
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                                                                                                                    <dc:creator><![CDATA[ Jeff Baumgartner ]]></dc:creator>                                                                                                                                                                                                                                                                    <media:content type="image/jpeg" url="https://cdn.mos.cms.futurecdn.net/8kSvaeamFx9tb36w5rhs8E-1280-80.jpg">
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                                <p>On the heels of its deal for Time Warner, AT&T apparently is ready to dip into the M&A content pool again.</p><p>AT&T is nearing a deal to acquire all of Otter Media, the OTT video joint venture formed with The Chernin Group in 2014, <a href="https://www.recode.net/2018/6/20/17481532/att-otter-media-chernin-group-fullscreen-crunchyroll">Recode reported</a>.</p><p>Recode expects the deal to close this summer, offering estimates that Otter Media could be valued at more than $1 billion (AT&T and The Chernin Group originally earmarked about $500 million for the J.V.).</p><p>It would also follows <a href="https://nypost.com/2017/07/18/att-in-talks-to-acquire-otter-media/">earlier reports that the sides were trying to formulate an agreement</a>, and come after the recent the appointment of AT&T and DirecTV exec Tony Goncalves as CEO of Otter Media. Recode said the expectation is that Goncalves would end up reporting to John Stankey, who is now CEO of what’s now known as WarnerMedia.</p><p><a href="https://www.nexttv.com/news/tony-goncalves-named-ceo-otter-media-418090" data-original-url="https://www.multichannel.com/news/tony-goncalves-named-ceo-otter-media-418090">RELATED: Goncalves Named CEO of Otter Media</a></p><p>If such a deal comes to fruition, AT&T would own a portfolio that includes Ellation, Fullscreen Media, Crunchyroll, VRV, Crunchyroll, and VRV, which runs an SVOD aggregation and bundling service.</p><p>AT&T is also in discussions to acquire digital ad-tech company AppNexus for about $1.6 billion, and take on a stronger position in that area against companies such as Verizon and Google, <a href="https://www.wsj.com/articles/at-t-in-talks-to-acquire-appnexus-for-about-1-6-billion-1529464400">according to <em>The Wall Street Journal</em></a>.</p>
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                                                            <title><![CDATA[ Otter Media CEO Names Senior Exec Team ]]></title>
                                                                                                                                                                                                <link>https://www.nexttv.com/news/otter-media-ceo-names-senior-exec-team-418231</link>
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                            <![CDATA[ Otter Media CEO Names Senior Exec Team ]]>
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                                                                        <pubDate>Tue, 20 Feb 2018 17:20:00 +0000</pubDate>                                                                                                                                                                                                                                <category><![CDATA[Content]]></category>
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                                                                                                                    <dc:creator><![CDATA[ Jeff Baumgartner ]]></dc:creator>                                                                                                                                                                                                                                                                    <media:content type="image/jpeg" url="https://cdn.mos.cms.futurecdn.net/abh6RwQqci4N8BiywYNH4h-1280-80.jpg">
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                                <figure class="van-image-figure pull-" data-bordeaux-image-check ><div class='image-full-width-wrapper'><div class='image-widthsetter' ><p class="vanilla-image-block" style="padding-top:56.25%;"><img id="abh6RwQqci4N8BiywYNH4h" name="" alt="" src="https://cdn.mos.cms.futurecdn.net/abh6RwQqci4N8BiywYNH4h.jpg" mos="https://cdn.mos.cms.futurecdn.net/abh6RwQqci4N8BiywYNH4h.jpg" align="" fullscreen="" width="" height="" attribution="" endorsement="" class="pull-"></p></div></div></figure><p>Otter Media, the OTT J.V. of AT&T and The Chernin Group, said new CEO Tony Goncalves has appointed four to his executive team – Andy Forssell as chief operating officer; Sean Kisker as chief strategy officer; Jennifer Cho as chief financial officer; and Alan Beard as chief brand officer.</p><p>The appointments come about a week after Goncalves, the former CEO of digital brands at AT&T, was named CEO of Otter Media.<br/><br/><a href="https://www.nexttv.com/news/tony-goncalves-named-ceo-otter-media-418090" data-original-url="https://www.multichannel.com/news/tony-goncalves-named-ceo-otter-media-418090">RELATED: Tony Goncalves Named CEO of Otter Media <br/></a><br/>Forssell joins the exec team of Fullscreen, where he served as COO of the Otter Media-owned OTT service. Prior to that he was CEO of Showyou, a video aggregation service, and led Hulu’s content business, including its move into original programming. He had also served as interim CEO of Hulu in 2013.</p><p>Kisker has been serving as a personal adviser to founders and CEOs of leading early-stage technology and entertainment ventures, and, from 2003 to 2016, was an exec at Lionsgate Entertainment, most recently as chief strategy officer.</p><p>Cho joins Otter Media following senior exec roles at AT&T, DirecTV and Gap Inc. She most recently was CFO of AT&T Entertainment Group’s Technology & Operations division.</p><p>Beard co-founded social media creative agency McBeard, which was acquired by Fullscreen in May 2015. Beard has been serving as chief marketing officer at Fullscreen.</p><p>"Andy, Sean, Jennifer, and Alan are skilled executives with great instincts," Goncalves said in a statement. “They each bring a strong point of view, knowledge and vast experience. This exceptional team will lay a solid foundation for us to continue to build and evolve Otter’s leadership in the digital media space."</p>
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                                                            <title><![CDATA[ Tony Goncalves Named CEO of Otter Media ]]></title>
                                                                                                                                                                                                <link>https://www.nexttv.com/news/tony-goncalves-named-ceo-otter-media-418090</link>
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                            <![CDATA[ Tony Goncalves Named CEO of Otter Media ]]>
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                                                                        <pubDate>Mon, 12 Feb 2018 17:46:00 +0000</pubDate>                                                                                                                                                                                                                                <category><![CDATA[Technology]]></category>
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                                                                                                                    <dc:creator><![CDATA[ Jeff Baumgartner ]]></dc:creator>                                                                                                                                                                                                                                                                    <media:content type="image/jpeg" url="https://cdn.mos.cms.futurecdn.net/YDhZMaZZqy5LHSbZQ7tRqG-1280-80.jpg">
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                                <figure class="van-image-figure pull-" data-bordeaux-image-check ><div class='image-full-width-wrapper'><div class='image-widthsetter' ><p class="vanilla-image-block" style="padding-top:56.25%;"><img id="YDhZMaZZqy5LHSbZQ7tRqG" name="" alt="" src="https://cdn.mos.cms.futurecdn.net/YDhZMaZZqy5LHSbZQ7tRqG.jpg" mos="https://cdn.mos.cms.futurecdn.net/YDhZMaZZqy5LHSbZQ7tRqG.jpg" align="" fullscreen="" width="" height="" attribution="" endorsement="" class="pull-"></p></div></div></figure><p>Tony Goncalves has been named CEO of Otter Media, the OTT joint venture of The Chernin Group and AT&T formed in 2014.</p><p>RELATED: AT&T, Chernin Group To Build OTT Video Services</p><p>Goncalves most recently was CEO, Digital Brands for AT&T, overseeing the Otter Media relationship with The Chernin Group, and leading the strategy for DirecTV Now, the OTT TV service that AT&T launched in November 2016. Prior to that, Goncalves served in number of exec roles at DirecTV, which merged with AT&T in July 2015.</p><p><a href="https://www.nexttv.com/news/att-adds-368000-directv-now-subs-q4-417853" data-original-url="https://www.multichannel.com/news/att-adds-368000-directv-now-subs-q4-417853">RELATED: AT&T Adds 368,000 DirecTV Now Subs in Q4</a></p><p>Talks about having Goncalves join Otter Media full-time started about six months ago, according to a statement from Peter Chernin, chairman of Otter Media and CEO of The Chernin Group, which is Otter Media’s majority owner.</p><p>Sarah Harden had been serving as president at Otter Media before being named CEO of Hello Sunshine, Reese Witherspoon’s production company, full-time last month. The last person to serve as CEO at Otter Media was Virasb Vahidi, who left in 2015.</p><p>Hello Sunshine is also part of Otter Media’s portfolio. Others in that portfolio include Ellation, Fullscreen, Rooster Teeth, Crunchyroll, VRV, and Gunpowder Sky. Otter Media estimated that brands in its portfolio engages with more than 90 million unique viewers per month, and generated a combined 100 billion video views in 2017.</p><p>“Tony has been our partner on Otter Media for almost four years, and during that time, it was evident that he is a thoughtful, strategic executive who is hugely passionate about furthering the growth of one of the premiere digital media companies,” Chernin said, in a statement. “Over the last six months, we started discussing having Tony join Otter full-time, and we are delighted that he has agreed to assume the role of CEO. We know he will apply his formidable talents to help us take this company to the next level.”</p>
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                                                            <title><![CDATA[ Report Rekindles Rumor That AT&T Has Eyes for Rest of Otter Media ]]></title>
                                                                                                                                                                                                <link>https://www.nexttv.com/blog/report-rekindles-rumor-att-has-eyes-rest-otter-media-416705</link>
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                            <![CDATA[ Report Rekindles Rumor That AT&T Has Eyes for Rest of Otter Media ]]>
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                                                                        <pubDate>Mon, 20 Nov 2017 18:45:00 +0000</pubDate>                                                                                                                                                                                                                                <category><![CDATA[The Chernin Group]]></category>
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                                                                                                                    <dc:creator><![CDATA[ Jeff Baumgartner ]]></dc:creator>                                                                                                                                                                                                                                                                    <media:content type="image/jpeg" url="https://cdn.mos.cms.futurecdn.net/qMeNK6hXEyHUKb9bf26Ynh-1280-80.jpg">
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                                <p>AT&T is looking to acquire The Chernin Group’s stake in Otter Media, the OTT video focused joint venture that they introduced in April 2014, <a href="https://digiday.com/media/after-time-warner-att-has-another-interesting-video-play-in-otter-media/">according to <em>Digiday</em></a><em>,</em> citing multiple unnamed sources familiar with the plan.</p><p>RELATED: AT&T, Chernin Group To Build OTT Video Services</p><p>It’s not exactly a new rumor. <a href="https://nypost.com/2017/07/18/att-in-talks-to-acquire-otter-media/">The <em>New York Post</em> reported in July</a> that AT&T was in talks with Peter Chernin of The Chernin Group about acquiring the rest of Otter Media, at the time said to be part of a bigger effort for AT&T to “clean up a host of joint ventures” as it continued its pursuit of Time Warner Inc.  At the time, the New York Post said industry sources put the value of Otter Media at as much as $1 billion.</p><p>AT&T and The Chernin Group initially committed to invest $500 million into Otter Media. Examples of Otter Media holdings and assets include Fullscreen, which recently announced <a href="https://www.nexttv.com/news/fullscreen-shut-down-svod-service-january-416576" data-original-url="https://www.multichannel.com/news/fullscreen-shut-down-svod-service-january-416576">plans to shut down its SVOD service in January</a>, Crunchyroll, the anime-focused SVOD service, and Creativebug.</p><p>Ellation, the company behind the VRV SVOD aggregation service, is a portfolio company of Otter Media’s. RoosterTeeth is a subsidiary of Fullscreen Media.</p><p><a href="http://www.broadcastingcable.com/news/platforms/vrv-opens-new-chapter-subscription-vod/169870">RELATED: VRV Opens New Chapter on Subscription VOD</a></p><p>Otter Media declined to comment on the report. AT&T has been asked for comment, but has already declined comment to <em>Digiday</em>.</p>
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                                                            <title><![CDATA[ Otter Media Ups Sarah Harden to President ]]></title>
                                                                                                                                                                                                <link>https://www.nexttv.com/news/otter-media-ups-sarah-harden-president-395996</link>
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                            <![CDATA[ Otter Media Ups Sarah Harden to President ]]>
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                                                                        <pubDate>Tue, 15 Dec 2015 22:30:00 +0000</pubDate>                                                                                                                                                                                                                                <category><![CDATA[Fates &amp; Fortunes]]></category>
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                                                                                                                    <dc:creator><![CDATA[ Jeff Baumgartner ]]></dc:creator>                                                                                                                                                                                                                                                                    <media:content type="image/jpeg" url="https://cdn.mos.cms.futurecdn.net/GNCZaFraVsAgHHScJZ69zS-1280-80.jpg">
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                                <figure class="van-image-figure pull-" data-bordeaux-image-check ><div class='image-full-width-wrapper'><div class='image-widthsetter' ><p class="vanilla-image-block" style="padding-top:56.25%;"><img id="GNCZaFraVsAgHHScJZ69zS" name="" alt="" src="https://cdn.mos.cms.futurecdn.net/GNCZaFraVsAgHHScJZ69zS.jpg" mos="https://cdn.mos.cms.futurecdn.net/GNCZaFraVsAgHHScJZ69zS.jpg" align="" fullscreen="" width="" height="" attribution="" endorsement="" class="pull-"></p></div></div></figure><p>Otter Media, the OTT joint venture of The Chernin Group  and AT&T formed in 2014, announced Tuesday that Sarah Harden has been promoted to president.</p><p>In that role, Harden, who previously served as EVP of strategy and investments at Otter Media, will drive strategy and operational activities for Otter Media.</p><p>“Sarah has been integral to Otter Media’s rapid development and success since formation,” Jesse Jacobs, president of TCG, said in a statement. “She has successfully led a wide range of activities spanning M&A, operations, strategy and day-to-day execution. She has been a wonderful and effective partner, and I look forward to continuing our work to further develop and grow all of Otter’s OTT businesses.”</p><p>"Helping build and develop Otter Media since its inception has been an extremely rewarding experience and has laid a solid foundation for me to manage the venture in its next stage of growth,” Harden added. “I am thrilled to continue collaborating with my colleagues at The Chernin Group and AT&T, and at our portfolio companies Fullscreen and Ellation, to achieve our mutual, ambitious goals.”</p><p>Harden joined TCG as EVP  September 2013, where she played key roles in the company’s majority stake acquisition of Crunchyroll,, and Otter Media’s acquisition of a controlling stake in Fullscreen.  Harden currently sits on the boards at Crunchyroll and Fullscreen.</p><p>Prior to joining TCG, Harden was group director, partnerships and development, Asia, at News Corp., and, before that, was SVP, business development for Fox Networks Group in Los Angeles. She began her career as a senior associate with The Boston Consulting Group in Melbourne, Australia, and is a graduate of University of Melbourne (Bachelor of Arts, Hons) and holds an MBA from Harvard Business School where she graduated as a Baker Scholar. </p>
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                                                            <title><![CDATA[ The Chernin Group Names Mike Kerns President of Digital ]]></title>
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                            <![CDATA[ The Chernin Group Names Mike Kerns President of Digital ]]>
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                                                                        <pubDate>Tue, 07 Jul 2015 16:30:00 +0000</pubDate>                                                                                                                                                                                                                                <category><![CDATA[Distribution]]></category>
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                                                                                                                    <dc:creator><![CDATA[ Jeff Baumgartner ]]></dc:creator>                                                                                                                                                                                                                                                                    <media:content type="image/jpeg" url="https://cdn.mos.cms.futurecdn.net/C46KfrudUW8EJvcUyhn8qL-1280-80.jpg">
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                                <figure class="van-image-figure pull-" data-bordeaux-image-check ><div class='image-full-width-wrapper'><div class='image-widthsetter' ><p class="vanilla-image-block" style="padding-top:56.25%;"><img id="C46KfrudUW8EJvcUyhn8qL" name="" alt="" src="https://cdn.mos.cms.futurecdn.net/C46KfrudUW8EJvcUyhn8qL.jpg" mos="https://cdn.mos.cms.futurecdn.net/C46KfrudUW8EJvcUyhn8qL.jpg" align="" fullscreen="" width="" height="" attribution="" endorsement="" class="pull-"></p></div></div></figure><p>The Chernin Group said it has appointed former Yahoo exec Mike Kerns to president of digital, where he will support TCG’s digital-focused investments and portfolio strategy and be tasked with heading up the group’s expansion into Northern California, which include plans for a new office in San Francisco.</p><p>Kerns, who will work closely with TCG CEO and chairman Peter Chernin and TCG president Jesse Jacobs, will also join the board of Otter Media, the online video joint venture formed by The Chernin Group and AT&T in April 2014 that has majority stakes in Fullscreen and Crunchyroll, and <a href="https://www.nexttv.com/news/chernin-att-jv-buys-creativebug-10-million-375916" data-original-url="https://www.multichannel.com/news/chernin-att-jv-buys-creativebug-10-million-375916">acquired Creativebug,</a> a source for online video arts and crafts instruction. In addition to its stake in Otter Media, TCG's assets also include Chernin Entertainment, a majority stake in Hong Kong-based CA Media, along with strategic investments in Pandora, SoundCloud, Flipboard, Medium, Scopely, Doppler Labs and MiTu. </p><p>Kerns joins TCG from Yahoo where he most recently served as senior vice president of product: homepage and verticals. Prior to that, he co-founded and served as CEO of Citizen Sports, a maker of social and sports-related apps that was acquired by Yahoo acquisition in 2010. Kerns has also served as chief of staff at Steinberg & Moorad Sports Management, and began his career as an associate at Angel Investors, L.P.</p><p>“We have meaningfully accelerated TCG’s digital presence and sphere of investment activities over the past few years,” Chernin said, in a statement. “Mike will be a phenomenal addition to the team and will help us with our existing portfolio of businesses, as well as in rapidly expanding our investment endeavors. He has a proven, multi-disciplined track record which has become increasingly important to our company, current holdings and future growth.” </p>
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                                                            <title><![CDATA[ Otter Media Taps Unit Leaders ]]></title>
                                                                                                                                                                                                <link>https://www.nexttv.com/news/otter-media-taps-unit-leaders-384310</link>
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                            <![CDATA[ Otter Media Taps Unit Leaders ]]>
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                                                                        <pubDate>Tue, 30 Sep 2014 19:45:00 +0000</pubDate>                                                                                                                                                                                                                                <category><![CDATA[Distribution]]></category>
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                                                                                                                    <dc:creator><![CDATA[ Jeff Baumgartner ]]></dc:creator>                                                                                                                                                                                                                                                                    <media:content type="image/jpeg" url="https://cdn.mos.cms.futurecdn.net/UboAFs6iECVGYhhmPhyDS6-1280-80.jpg">
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                                <figure class="van-image-figure pull-" data-bordeaux-image-check ><div class='image-full-width-wrapper'><div class='image-widthsetter' ><p class="vanilla-image-block" style="padding-top:56.25%;"><img id="UboAFs6iECVGYhhmPhyDS6" name="" alt="" src="https://cdn.mos.cms.futurecdn.net/UboAFs6iECVGYhhmPhyDS6.jpg" mos="https://cdn.mos.cms.futurecdn.net/UboAFs6iECVGYhhmPhyDS6.jpg" align="" fullscreen="" width="" height="" attribution="" endorsement="" class="pull-"></p></div></div></figure><p>Otter Media, the online video joint venture of The Chernin Group and AT&T formed in April, has announced who will take the helm of the company’s day-to-day operations – Virasb Vahidi is now CEO of Otter Media, and Tom Pickett is CEO of a new Otter Media-controlled unit focused on building targeted VOD channels.</p><p>Vahidi, (pictured), formerly served as COO of American Airlines and was previously the SVP, corporate strategy and planning at AT&T, will lead Otter Media’s general operations and overall strategy, along with TCG and AT&T.</p><p>As CEO of the new unit of Otter Media, Pickett, an exec late of Google and YouTube, will focus on building advertising and subscription-based targeted video-on-demand channels, responsibilities that will include the J.V.’s current online video assets Crunchyroll and Creativebug. Pickett most recently served as vice president, YouTube Content.</p><p>Otter Media recently agreed to snap up a majority stake in Fullscreen, the popular YouTube networkt ailored for young consumers. Under that deal, Fullscreen CEO and founder George Strompolos will continue as CEO and retain a “material ownership stake” in Fullscreen.</p><p>“Virasb and Tom are joining Otter’s executive team during a time of tremendous opportunity in the OTT space. Their consumer-focused experience and superior leadership abilities are the perfect qualities to help steer our efforts, grow our existing businesses and expand the Otter portfolio,” said Jesse Jacobs, president of The Chernin Group, the majority investor of Otter, in a statement.</p><p>AT&T and The Chernin Group committed to invest $500 million in the OTT venture when they announced it in April. Otter Media made its first acquisition in July, <a href="https://www.nexttv.com/news/chernin-att-jv-buys-creativebug-10-million-375916" data-original-url="https://www.multichannel.com/news/chernin-att-jv-buys-creativebug-10-million-375916">shelling out $10 million for Creativebug Inc</a>., a source for online video arts and crafts instruction. Otter Media also has a majority stake in Crunchyroll, an ad-supported video platform for Japanese anime and Korean content.</p><p>The Otter Media board of directors includes Peter Chernin and Jesse Jacobs of The Chernin Group, John Stankey and David Christopher of AT&T, and Virasb Vahidi. </p>
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                                                            <title><![CDATA[ Chernin/AT&T J.V. Buys Creativebug For $10 Million ]]></title>
                                                                                                                                                                                                <link>https://www.nexttv.com/news/chernin-att-jv-buys-creativebug-10-million-375916</link>
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                            <![CDATA[ Chernin/AT&T J.V. Buys Creativebug For $10 Million ]]>
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                                                                        <pubDate>Mon, 14 Jul 2014 14:45:00 +0000</pubDate>                                                                                                                                                                                                                                <category><![CDATA[Content]]></category>
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                                                                                                                    <dc:creator><![CDATA[ Jeff Baumgartner ]]></dc:creator>                                                                                                                                                                                                                                                                    <media:content type="image/jpeg" url="https://cdn.mos.cms.futurecdn.net/QKMT8RYH3mkmSgzKv8ge5M-1280-80.jpg">
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                                <figure class="van-image-figure pull-" data-bordeaux-image-check ><div class='image-full-width-wrapper'><div class='image-widthsetter' ><p class="vanilla-image-block" style="padding-top:56.25%;"><img id="QKMT8RYH3mkmSgzKv8ge5M" name="" alt="" src="https://cdn.mos.cms.futurecdn.net/QKMT8RYH3mkmSgzKv8ge5M.jpg" mos="https://cdn.mos.cms.futurecdn.net/QKMT8RYH3mkmSgzKv8ge5M.jpg" align="" fullscreen="" width="" height="" attribution="" endorsement="" class="pull-"></p></div></div></figure><p>The over-the-top video venture formed by AT&T and The Chernin Group announced their first acquisition while also revealing Otter Media as the new name for the J.V.</p><p>Otter Media, a company focused on acquiring, investing in and launching OTT video services, has nabbed Creativebug Inc., a source for “high-quality online video arts and crafts instruction,” from Demand Media. Otter Media paid $10 million, <a href="http://www.sec.gov/Archives/edgar/data/1365038/000156459014002754/dmd-8k_20140709.htm">according to this SEC filing</a>.</p><p>San Francisco-based Creativebug was founded in 2012and features more than 300 online classes. Creativebug’s team, including new CEO Ursula Morgan; chief creative officer Jeanne Lewis; VP, operations & partnerships Julie Roehm; and VP, editorial Kelly Wilkinson will stay on with Otter Media. Lewis, Roehm and Wilkinson are co-founders.</p><p>According to the Creativebug site, the service offers some free content alongside paid offerings, including unlimited access to workshops for $9.95 per month, and an a la carte option that hawks single workshops starting at $9.95 each. Workshop categories include bookbinding, crochet, embroidery, felting, kids crafts, patchwork, stamping and home decor.</p><p>Creativebug taps into a craft market worth about $29 billion, Otter Media estimated, citing a study from 2011.</p><p>“Creativebug has inventively and successfully tapped into this powerful and engaged crafts audience who are passionate about making and creating,” said Sarah Harden, executive vice president at the Chernin Group, in a statement. “Online video is the perfect medium to connect leading artists to their audiences across the globe. And the team at Creativebug has built out a very strong leadership position in this category. We look forward to supporting their continued growth alongside our other offerings.”  </p><p>AT&T and The Chernin Group committed to invest $500 million in the venture when they announced it in April.</p><p>The J.V., which also holds a majority stake in Japanese anime and Asian content-focused OTT service Crunchyroll, is developing a strategy focused on subscription- and ad-supported VOD channels, as well as streaming services. The Chernin Group also has strategic investments in companies such as Fullscreen, Pandora, SoundCloud, and Flipboard.</p>
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