Otter Media, the joint venture between Chernin and AT&T has purchased a controlling interesting in FullScreen. Fullscreen is a multichannel YouTube network, which have become big in recent years. The Chernin Group, an early investor and longtime advisor to Fullscreen, and AT&T announced the deal Monday.
The acquisition values Fullscreen at between $200 million and $300 million, according toRe/code, which first reported the deal. Fullscreen CEO George Strompolo will continue as his position and will continue to have a stake in the company. The MCN boost close to 4 billion views each month, and was one of the larger multichannel networks.
Now the number of independent of multichannel networks are dwindling as more larger well established media companies try to grab for content on YouTube. Disney recently purchased Maker Studios for $950 million, which is the largest MCN around. The purchases for these companies are in hopes to find large stars that will help them be apart of YouTube.
We are apart of FullScreen since the early days and we are glad to see a large amount of money and backing to help the network grow and expand. It looks like Otter Media will not change anything with FullScreen and in general the company will keep operating separately and stay fairly independent.
Tell us in the comments below what you think about these MCN being purchased by larger media companies in hopes of getting their hands in on the ever growing YouTube network.