AT&T, Chernin set sights on streaming video
April 22nd, 2014
08:30 PM ET

AT&T, Chernin set sights on streaming video

By Brian Stelter, CNN

Is AT&T preparing a new challenger to Netflix and Hulu?

On Tuesday the wireless company said it had entered into a new venture with former News Corporation president Peter Chernin for "over-the-top video services."

They're not talking specifics yet. But they're interested in the streaming video space to the tune of at least $500 million. That's how much money AT&T (ATT )and Chernin's media investment company, The Chernin Group, said they had initially committed to the venture.

With the $500 million, the companies will seek to invest in video-on-demand channels and streaming video services. These may be supported by advertising, likeGoogle (GOOGFortune 500)'s YouTube is, by subscription fees, like Netflix (NFLX)is, or by both, like Hulu is.

Read more of Brian's article on CNN.com here. 

Posted by
Filed under: Reliable Sources
soundoff (No Responses)

Post a comment


CNN welcomes a lively and courteous discussion as long as you follow the Rules of Conduct set forth in our Terms of Service. Comments are not pre-screened before they post. You agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Service.