The telecom giant will seek to invest in or acquire a stable of online video services in conjunction with digital media and entertainment company Chernin Group.
US-based telecommunications company AT&T has formed a $500m joint venture with next-generation media and entertainment investor Chernin Group that will acquire, invest in and launch over-the-top (OTT) video services.
OTT video content is generally sourced from a third party and delivered online through a streaming service, such as those operated by Netflix. The JV will seek to invest in both general streaming services and specialised on-demand video channels that generate revenue through advertising or subscriptions.
Chernin Group has invested in…
