Otter Media is now a part of AT&T’s Warner Media unit and Tony Goncalves, who was selected to be Otter’s CEO at the start of 2018, will continue as CEO, reporting to Warner Media’s CEO, John Stankey.
"We are thrilled to incorporate the Otter Media brands and talent into Warner Media,” said John Stankey, Warner Media CEO.“Working with Tony, we look to harness Otter’s expertise in feeding the passion of online audiences to augment our portfolio of digital assets and help us further engage, connect and entertain consumers around the globe," Stankey said.
In 2014, AT&T and The Chernin Group established Otter Media to advance and develop applications and properties that benefited the growth of direct to user subscription and advertising models, as well as the emergence of new digital media labels.
The Otter Media company has built extensive network of producers and influencers of great talent, and they have obtained massive archives of video content. The Otter Media portfolio has several industry-leading platforms such as Crunchyroll and VRV, that belong to Ellation, an entertainment company.
The Other Media family has yet another critical component, Fullscreen, a digital media company that empowers talent and brands.
AT&T’s Warner Media unit was created after the close of the Time Warner acquisition in June 2018. The details of the agreement have not been disclosed, but it did not have any major effect on AT&T’s first half of 2018's results, when the majority of the deal was funded. This acquisition will not affect the plans the company had to reduce its net debt to the adjusted EBITDA ratio to a 2.5x range by the end of 2019, and its historical range by the end of 2022.
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