AT&T and the Chernin Group run a joint venture called Otter Media. Otter Media has now purchased a controlling stake in Fullscreen, which is one of the most popular YouTube channels.
Peter Chernin Posts
Yahoo! Inc. (NASDAQ:YHOO) may be spending around $250 million to acquire Fullscreen, a company that creates content on YouTube.
AT&T Inc. (NYSE:T) and Chernin Group have formed a $500 million joint venture to build a streaming video service. AT&T and Chernin will be pooling resources to acquire and launch over-the-top video services, including video-on-demand businesses that would compete against services like Netflix and Hulu.
Medium is a blog platform / digital magazine that has turned one year old. The startup has raised $25 million in Series A funding, which will be used for a larger office in San Francisco, hiring additional staff, and scaling infrastructure. Medium was founded by Ev Williams, one of Twitter’s co-founders. He previously bootstrapped the company through his startup Obvious Corporation.
Flipboard CEO Mike McCue has confirmed that the company has raised $50 million at a $200 million valuation. Insight Venture Partners led this round of funding. “We’re obviously thrilled, because we think it confirms our focus that people want a beautifully designed way to interact with content and to share it,” stated McCue. “And there is a lot more to come–on a scale of one to 10, we’re just at a two or three.”
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Eric Schmidt, Sean Parker, Richard Rosenblatt, Peter Chernin, and Marc Andreessen Invest In Ari Emanuel’s Merchant Bank Raine
Former Google CEO Eric Schmidt, former Facebook president Sean Parker, Demand Media founder Richard Rosenblatt, former News Corp. COO Peter Chernin, Andreessen Horowitz co-founder Marc Andreessen, WPP, and Mubadala Development have invested in Raine. Raine is a merchant bank that was founded by Ari Emanuel and two former Wall Street dealmakers. Fans of the TV show Entourage will probably know Emanuel best for having the character Ari Gold based on him.
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Social media reading application company Flipboard is raising funding that would give them a $200 million valuation according to sources with AllThingsD. The valuation is subject to change. Flipboard was co-founded by Mike McCue and former Apple iPhone engineer Evan Doll. When Flipboard launched in January, they had raised $10.5 million in VC funding from Kleiner Perkins, Index Centures, Jack Dorsey, Dustin Moskovitz, Ron Conway, Ashton Kutcher, and Peter Chernin. Flipboard has zero revenue thus far. [AllThingsD]