Bloomberg: Peter Chernin, the former No. 2 in Rupert Murdoch’s media empire, and AT&T have acquired a minority stake in Supergravity Pictures, a year-old company that makes movies featuring stars from YouTube and other websites. Otter Media, a venture between the Chernin Group and AT&T, invested an undisclosed sum in Supergravity, which will use the money to add staff and make films for distribution in theaters and online. Otter is betting that successful producers and stars on YouTube, Vine and Snapchat can make and market films for a fraction of what studios spend.