\n\tLOS ANGELES\/DALLAS: AT&T and The Chernin Group’s joint venture Otter Media has purchased a majority stake in global online-media company Fullscreen.<\/p>\n
\n\tFullscreen founder George Strompolos is set to remain in his current role as CEO while maintaining an ownership stake in the company. Members of the management team will also remain in their current roles. WPP, which had invested in the company in a round of Series A funding led by The Chernin Group in 2013, is expected to continue as a strategic shareholder. The transaction is due to close within the next month, pending regulatory approval.<\/p>\n
\n\tFounded in 2011 and ranked as a leading YouTube partner network, Fullscreen has worked with more than 50,000 content creators who engage 450 million subscribers and generate 4 billion monthly views. Its roster of talent includes online stars such as Fine Bros., Connor Franta, 02L, Andrea Russet and many others.<\/p>\n
\n\t“Our relationship with George started over three years ago when he launched Fullscreen in our offices,” said Peter Chernin, chairman and CEO of The Chernin Group. “Since then, George and the Fullscreen team have achieved something remarkable—they have built one of the largest online content distribution networks, as well as created a leadership position in youth-oriented video programming. We’re thrilled to be working with him and his management team in this next chapter for the company. Fullscreen’s support for content creators, its relationship with YouTube and its passion for delivering entertainment to youth audiences around the world are extremely appealing to us.”<\/p>\n
\n\t“This is a huge win for Fullscreen and our creators,” said Strompolos. “Peter Chernin, Jesse Jacobs and the entire team at The Chernin Group have supported our vision since day one. With AT&T as a strategic investor in Otter Media, we are well positioned to redefine youth media in today’s digital-first world. We could not ask for a better opportunity.”<\/p>\n
\n\t“We are excited to have Fullscreen as an integral part of Otter Media, as this supports our focus on youth-based content,” said Aaron Slator, the president of content development at AT&T.<\/p>\n","protected":false},"excerpt":{"rendered":"
LOS ANGELES\/DALLAS: AT&T and The Chernin Group’s joint venture Otter Media has purchased a majority stake in global online-media company Fullscreen. Fullscreen founder George Strompolos is set to remain in his current role as CEO while maintaining an ownership stake in the company. Members of the management team will also remain in their current roles. …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[],"class_list":["post-5929","post","type-post","status-publish","format-standard","","category-top-stories"],"yoast_head":"\n