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Wednesday, July 23, 2014

AT&T, Chernin Group close to deal to purchase YouTube network Fullscreen -tech blog, (NYSE: T)

AT&T Inc and the Chernin Group are close to buying a majority slice of Fullscreen, in a deal that will value the popular YouTube video network at $200 million to $300 million, said tech blog Re/code, citing sources familiar with the target company.Otter Media, a joint venture between the telecom carrier and the investment group headed by media entrepreneur Peter Chernin, beat out several unidentified prospective buyers in past months, the blog reported on Wednesday.AT&T, Fullscreen and the Chernin Group were not immediately available for comment.The acquisition would follow on the heels of Walt Disney Co's $500 million acquisition of Maker Studios earlier this year, which cast a spotlight on the potential value of fast-growing original content channels on Google Inc's YouTube.

AT&T Inc. (AT&T), is a holding company. The Company is a provider of telecommunications services. Shares of T fell by 0.17% or $-0.06/share to $35.88. In the past year, the shares have traded as low as $31.74 and as high as $36.86. On average, 22437300 shares of T exchange hands on a given day and today's volume is recorded at 15090754.