In addition to Crunchyroll, it owned Rooster Teeth and held an ownership stake in Gunpowder & Sky with Floris Bauer.

In April 2014, AT&T and the Chernin Group established Otter Media as the 50:50 joint venture to offer OTT services.

[8] In November 2016, Otter Media and actress Reese Witherspoon formed Hello Sunshine, a joint venture focused on telling female-driven stories on film, TV, and digital platforms; the company was later sold to a media company backed by the Blackstone Group.

[11] On August 7, 2018, AT&T announced their acquisition of Chernin Group's stake in Otter Media for an undisclosed amount, believed to be around $1 billion.

[19][20] On December 9, 2020, Sony-owned Funimation Global Group, LLC announced its acquisition of Crunchyroll from WarnerMedia for $1.175 billion.