![AT&T near deal to buy Otter Media, its under-the-radar streaming video play [telecom]](https://forums.cabling-design.com/media/31864/conversions/60397bb2b83b31.99650382-medium.jpg)
By Sahil Patel
Time Warner is the big fish that AT&T is trying to catch, but the telecommunications giant has another investment that could turn into a valuable streaming content and distribution play once all of the pieces are in place.
Three years ago, AT&T formed a joint venture with The Chernin Group called Otter Media, which would focus on acquiring, investing in and launching streaming video services. The two partners said they committed $500 million to fund Otter Media, which has since served as a digital holding company for a variety of video businesses, including Crunchyroll, Fullscreen, Gunpowder & Sky (a studio founded by former MTV boss Van Toffler) and Hello Sunshine (a digital media company co-founded with actress Reese Witherspoon).