It will now become a part of AT&T’s WarnerMedia unit, which was created with the acquisition of Time Warner. Tony Goncalves, the AT&T executive who became Otter Media’s CEO earlier this year, will continue to run the company.
The New York Times reports that analysts valued the deal at more than $1 billion.
“We are thrilled to incorporate the Otter Media brands and talent into WarnerMedia,” said WarnerMedia CEO John Stankey in the announcement. “Working with Tony, we look to harness Otter’s expertise in feeding the passion of on-line audiences to augment our portfolio of digital assets and help us further engage, connect and entertain consumers around the globe.”
AT&T says Otter Media has built up an audience of 93 million unique viewers each month and has 2 million paying subscribers.