AT&T Acquires Chernin Stake in Otter Media in $1 Billion Deal

New York Times: Four years ago, the Chernin Group made a bet on streaming and video services, which paid off Tuesday in a sale deal with AT&T worth more than $1 billion. With the purchase, Otter Media, the new media start-up holding company, ranks as one of the most valuable media upstarts of the last decade.