Promise is a new entertainment studio launched around the potential of generative AI. The Los Angeles-based startup is developing a multiyear slate of films, TV shows and media in “new formats.” With funding led by Peter Chernin’s North Road Company and Andreessen Horowitz, Promise vows to set “a new standard for high-quality storytelling enabled by AI.” The firm is also working on new tools to optimize the generative workflow. The first product, MUSE, “integrates the latest GenAI technology throughout the creative process in a streamlined, collaborative, and secure production environment.” Continue reading Promise Is an Entertainment Studio Built Around Generative AI

In 2013, Chernin Group chair/chief executive Peter Chernin and company president Jesse Jacobs, believing streaming media was the future, bought Crunchyroll, which specialized in anime, for $75 million. They then added other new media startups including Fullscreen, an ad agency for YouTube stars, Rooster Teeth, a video producer aimed at gamers and VRV’s 11 niche channels, creating Otter Media. On Tuesday, in a move that was long expected by analysts, the Chernin Group sold controlling interest in Otter Media to joint-venture partner AT&T in a deal valued at more than $1 billion. Continue reading AT&T Buys Chernin Group’s Controlling Stake in Otter Media

The Chernin Group (TCG), headed by Peter Chernin, has created the Action Network, a subscription-based sports analysis and media company for gamblers and fantasy-sports players. The Action Network melds three TCG-acquired companies: Mark Cuban-backed FantasyLabs, Sports Insights and Sports Action. Employees of those three companies will join the Action Network, and their founders will also be involved in key positions. Former ESPN executive Chad Millman is the new group’s head of media. TCG is the new firm’s primary investor, although it declined to state a dollar figure. Continue reading TCG Forms Subscription-Based Company for Fantasy Sports

Otter Media-backed Ellation is launching VRV, a new streaming service with videos from channels that include the newly signed CollegeHumor, and others, along with already-signed Crunchyroll, Rooster Teeth and Cartoon Hangover. Combined, all these channels boast more than one million paying subscribers and tens of millions of viewers. VRV, which hasn’t yet announced pricing, will debut later this year on the Xbox One, with other platforms to follow. The move is in line with Otter Media’s long-time interest in Web video. Continue reading Ellation Signs New Content Deals for VRV Streaming Service

AT&T announced a joint venture with The Chernin Group to commit $500 million to buy and launch Internet video services. Video content is foreign territory for AT&T, while Chernin’s only foothold is a majority stake in anime streaming service, Crunchyroll. Together, the two organizations have pledged to “acquire, invest in and launch over-the-top video services.” AT&T’s move into streaming services comes on the heels of similar projects by competitors such as Verizon and Dish Network. Continue reading AT&T and Chernin Group Invest $500 Million in Online Video