Chernin Group-AT&T Venture Acquires Creativebug

DALLAS/LOS ANGELES: Otter Media, the newly named venture between AT&T and The Chernin Group, has acquired the arts and crafts video site Creativebug from Demand Media.

Otter Media is focused on acquiring, investing in and launching OTT video services. Creativebug, founded by Jeanne Lewis and Julie Roehm in 2012, provides online video arts and crafts instructions. It features more than 300 online classes, with new classes added each week. The deal adds to Otter Media’s existing portfolio of OTT video services, including its majority stake in Crunchyroll.

“Creativebug has inventively and successfully tapped into this powerful and engaged crafts audience who are passionate about making and creating,” said Sarah Harden, the executive VP at The Chernin Group. “Online video is the perfect medium to connect leading artists to their audiences across the globe. And the team at Creativebug has built out a very strong leadership position in this category. We look forward to supporting their continued growth alongside our other offerings.” 
 
“With Creativebug, Jeanne and Julie have built and nurtured a place for arts and crafts enthusiasts of all skill sets and levels to learn and connect,” added Ursula Morgan, the CEO of Creativebug. “We are excited about reaching further into this community, thanks to the amplified resources of this new relationship, and to continue to extend our premium video class offerings.”