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Thursday, March 28, 2024

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  1. phil

    AT&T forming $500M+ streaming JV

    10:27 AM ET · T

    • AT&T (T +0.6%) and the Chernin Group (headed by ex-News Corp. president Peter Chernin) are committing over $500M to a JV that will “acquire, invest in, and launch” both ad-based and subscription Web video services.
    • Chernin will also contribute assets to the JV, such as its majority stake in subscription anime site Crunchyroll. AT&T and Chernin reportedly teamed up last year for a (rejected) Hulu bid.
    • AT&T/Chernin are going after a crowded market whose ad-supported segment is dominated by YouTube (1B+ monthly users), and whose subscription segment is dominated by Netflix (35.7M U.S. subs and $7.1B worth of content obligations at the end of Q1).
    • Interesting timing: Netflix’s Reed Hastings bashed the performance of AT&T’s U-verse broadband services in yesterday’s shareholder letter, while calling on AT&T to agree to a peering deal. AT&T’s own Q1 report arrives this afternoon.
    • Yesterday: AT&T names 100 “candidate cities” for 1Gbps U-verse
    var isMC=true; var adSize=’320×50′; var ord = Math.floor(Math.random()*10e12); var seekingalpha_ad_src=’http://ad.doubleclick.net/N6001/adj/sek.mobile/app;sz=320×50,320×250;x=x;tile=1;d=mobile;t=app;mcid=true;mcid=1685303;s=T;’+dart_my_vocation_and_profiles()+’ord=’+ord+’;dev=ip?’; document.write(”);



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