AT&T and Peter Chernin's The Chernin Group have formed a venture to acquire, invest and launch OTT video services, committing more than $500mln in funding. Further financial terms weren't disclosed. “Combining our expertise in network infrastructure, mobile, broadband and video with The Chernin Group's management and expertise in content, distribution, and monetization models in online video creates the opportunity for us to develop a compelling offering in the OTT space,” said AT&T chief strategy officer John Stankey. The Chernin Group will contribute its majority stake in SVOD service Crunchyroll (specializes in anime) to the venture.

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AT&T is buzzing when it comes to the continued success of its broadband product portfolio, scoring 252,000 AT&T Fiber net adds in 1Q24.

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