The over-the-top video venture formed by AT&T and The Chernin Group announced their first acquisition while also revealing Otter Media as the new name for the J.V.
Otter Media, a company focused on acquiring, investing in and launching OTT video services, has nabbed Creativebug Inc., a source for “high-quality online video arts and crafts instruction,” from Demand Media. Otter Media paid $10 million, according to this SEC filing.
San Francisco-based Creativebug was founded in 2012 and features more than 300 online classes. Creativebug’s team, including new CEO Ursula Morgan; chief creative officer Jeanne Lewis; VP, operations & partnerships Julie Roehm; and VP, editorial Kelly Wilkinson will stay on with Otter Media. Lewis, Roehm and Wilkinson are co-founders.