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AT&T is building its own video service after it failed to buy Hulu

22
Apr
2014

ATT and the Chernin Group were unsuccessful in their attempt to buy Hulu last year, so now theyve decided to spend $500 million in hopes of building a worthy competitor. A press release today notes that the communications behemoth has formed a partnership with Peter Chernins investment group. Together, theyll shell out millions in an effort to acquire, invest in and launch over-the-top (OTT) video services. Each brings something unique to the table. ATTs influence is obvious: the company has a nationwide presence with over 110 million wireless subscribers and over 16 million broadband customers.

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