Recode: AT&T Angling to Buy Crunchyroll Parent Otter Media

By: Anime Herald June 20, 20180 Comments

I’m guessing you didn’t expect to hear that today!

Tech news source Recode reports that AT&T intends to purchase Crunchyroll parent company Otter Media in its entirety. The telecom giant currently co-owns Otter with The Chernin Group. The purchase would give AT&T full control of Crunchyroll and FullScreen, among other organizations.

According to Recode, the deal has been in the works for several years, though it was put on hold as AT&T entered negotiations to purchase Time Warner. The deal is expected to close tihs summer. AT&T is expected to give Otter Media a $1 billion valuation at time of purchase.

AT&T has reportedly invested more than $500 million to the venture since 2014.

The Chernin Group, is owned by former News Corporation executive Peter Chernin, who purchased a majority stake in Crunchyroll in December 2013. In 2014, The Chernin Group entered a joint venture with AT&T to form Otter Media. Otter Media has since taken on Ellation, which was assigned as parent to Crunchyroll.

AT&T recently completed an acquisition of Time Warner. the $85 billion deal faced opposition by the Department of Justice, who claimed that the deal was anticompetitive. On June 12, though, AT&T was given permission by U.S. District Court Judge Richard J. Leon to complete the deal.

Sources: Recode, Seeking Alpha

Recode: AT&T Angling to Buy Crunchyroll Parent Otter MediaSamantha Ferreira

We Need Your Help!

We’re dedicated to paying our contributors and staff members fairly for their work—but we can’t do it alone.

You can become a patron for as little as $1 a month, and every single penny goes to the people and services that keep Anime Feminist running. Please help us pay more people to make great content!

%d bloggers like this: