Old Media Investing Millions to Buy Multi-Channel Networks on YouTube

As digital natives turn away from traditional media, industry giants are throwing money at YouTube to foster and exploit the talent that grows there.

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YouTube has become a foundry for video talent. Singular stars like Justin Bieber have come out of YouTube, but there’s a trend toward investing in buying multi-channel networks (MCNs). Now, with a buying frenzy underway, AT&T may have spent up to $300 million to throw its hat into the ring.

Otter Media, a joint venture between AT&T and the Chernin Group, has purchased a majority stake in Fullscreen, a MCN that represents channels that have more than 475 million subscribers collectively.

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