Otter Media

Method

Otter Media launches in April 2014 with 500 million dollars pledged by AT&T and The Chernin Group. It buys a controlling stake in Fullscreen in the autumn of 2014 in a deal valued by the press at 200 million to 300 million dollars, gains Rooster Teeth through that purchase, takes full control of Ellation and Crunchyroll in January 2018, and invests in Gunpowder & Sky and Hello Sunshine. AT&T buys out Chernin in August 2018 for a reported 1 billion dollars and dissolves Otter into WarnerMedia Entertainment on May 31, 2019. Crunchyroll is later sold to Sony's Funimation for 1.175 billion dollars in August 2021, the one asset in that portfolio that, on the reported figures, returned more than it cost.

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The path: money and goods moving

• acquiredFullscreenOtter Media takes control of Fullscreen in the autumn of 2014 in a deal reported at 200 million to 300 million dollars and completes the buyout in 2018.2014 to 2018
• backed byThe Chernin GroupThe Chernin Group and AT&T form Otter Media in 2014 pledging upwards of 500 million dollars; AT&T buys out Chernin on August 7, 2018 for a reported 1 billion dollars.2014 to 2018
• acquired byAT&TAT&T buys The Chernin Group's half of Otter Media in August 2018 for a sum believed to be about one billion dollars.2018
• acquiredMachinimaOtter Media takes over Machinima in the 2018 AT&T reorganization and closes it in January 2019, laying off 81 staff.2018 to 2019
• acquiredRooster TeethRooster Teeth is consolidated directly under Otter Media in 2018 alongside Crunchyroll before Otter dissolves into WarnerMedia in May 2019.2018 to 2019