Otter Media, a venture between The Chernin Group and AT&T, today agreed to purchase a majority stake in Fullscreen, a global online media company.
As part of the deal, Fullscreen CEO and Founder George Strompolos will continue as CEO and maintain a material ownership stake in the company. Otter Media was established by AT&T and The Chernin Group to invest in, acquire and launch over-the-top (OTT) video services.
“Our relationship with George started over three years ago when he launched Fullscreen in our offices. Since then, George and the Fullscreen team have achieved something remarkable – they have built one of the largest online content distribution networks, as well as created a leadership position in youth-oriented video programming,” explains Peter Chernin, chairman and CEO of The Chernin Group. “We’re thrilled to be working with him and his management team in this next chapter for the company. Fullscreen’s support for content creators, its relationship with YouTube and its passion for delivering entertainment to youth audiences around the world are extremely appealing to us.”
Fullscreen, founded in January 2011, works with more than 50,000 content creators who engage 450 million subscribers and generate 4 billion monthly views. Through its relationship with YouTube, Fullscreen is a pioneering force in the global content creator revolution and has been consistently ranked as a leading YouTube partner network.