Fullscreen Acquired By Chernin Group, AT&T

Los Angeles-based Fullscreen Network is being acquired by Otter Media, a joint venture of AT&T and The Chernin Group, in a deal which is reportedly worth between $200M and $300M. Exact terms of the buy were not announced. Fullscreen, which is led by George Strompolos, operates a giant YouTube network. The companies said that Fullscreen CEO Strompolos will continue in that position, and maintain a "material ownership stake" in the company. Fullscreen was founded in January of 2011.