AT&T, Chernin Plan $500 Million Online-TV Service
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AT&T Inc. plans to introduce an online-TV service by the end of this year, part of a pact with Chernin Group to invest more than $500 million to draw consumers who are flocking to Internet video.
The partners are looking at deals with television networks for live programming as well as building or investing in niche video-on-demand and curated services, where shows are queued up for viewers based on their tastes, said John Stankey, AT&T’s chief strategy officer. While AT&T’s U-verse, a traditional cable-TV service, is only offered in parts of the U.S. where the company has landlines, the new online product will be available nationwide, Stankey said today in an interview.