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AT&T and Chernin Group Are Buying A Majority Stake In The YouTube Network FullScreen

AT&T Inc. and Chernin Group are working on closing a deal in which they will buy a majority stake in Fullscreen, which will value the YouTube video network at $200 million to $300 million. Otter Media is a joint venture between AT&T and the investment group ran by Peter Chernin beat several other bidders trying to buy the network. Some of the companies that Otter Media beat out include Time Warner Inc., Yahoo Inc., and Relativity Media LLC. Fullscreen mostly caters to younger skewing audience members and claims to have 3 billion monthly video views from more than 400 million subscribers.