AT&T Inc said Tuesday it would partner with The Chernin Group media holding company to invest $500 million in a joint venture for web-based video services, making it the latest company aiming to tap the growing consumer demand for online video. The move follows announcements by Verizon Communications , Disney and Dish Network Corp which have plans to roll out video products outside a traditional TV subscription.Besides the $500 million investment, other financial terms of the deal were not disclosed.Chernin Group, former News Corp president Peter Chernin's holding company, produces films and TV shows, and has a stake in Crunchyroll, a subscription and video-on-demand service."AT&T's massive reach on those platforms across mobile and broadband and their commitment to the online video space make them the perfect fit for this venture with us," Chernin said.
DISH Network Corporation is a pay-television (TV) provider, with approximately 13. Shares of DISH fell by 0.1% or $-0.06/share to $59.91. In the past year, the shares have traded as low as $37.30 and as high as $64.52. On average, 2866500 shares of DISH exchange hands on a given day and today's volume is recorded at 652702.
News Corporation is a diversified media and information services company. Shares of NWSA fell by 0.24% or $-0.04/share to $16.91. In the past year, the shares have traded as low as $14.39 and as high as $18.53. On average, 3389000 shares of NWSA exchange hands on a given day and today's volume is recorded at 361850.
AT&T Inc. (AT&T), is a holding company. The Company is a provider of telecommunications services. Shares of T traded higher by 0.51% or $0.185/share to $36.24. In the past year, the shares have traded as low as $31.74 and as high as $39.00. On average, 31146800 shares of T exchange hands on a given day and today's volume is recorded at 11565532.
Verizon Communications Inc. (Verizon) is a holding company. Shares of VZ traded higher by 0.44% or $0.21/share to $48.19. In the past year, the shares have traded as low as $45.08 and as high as $54.31. On average, 43213000 shares of VZ exchange hands on a given day and today's volume is recorded at 7739164.
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