Photo: Kena Betancur/AFP/Getty Images

AT&T is on a media acquisition spree with Otter Media, the digital video company currently owned by AT&T and media holding company The Chernin Group, as its next target. Sources tell Recode that AT&T plans to buy out Chernin’s stake in the company.

Why it matters: AT&T needs content to build out its new digital advertising and streaming businesses — ventures that will be created in light of its successful acquisition last week of Time Warner Inc.

  • Cheddar reported Tuesday that AT&T is looking to acquire AppNexus, one of the largest privately-owned ad exchanges, to bolster is digital advertising efforts.
  • And AT&T CEO Randall Stephenson teased several upcoming acquisitions in a CNBC interview last week.

The details: Otter Media is reportedly valued around $1 billion. Its assets include a streaming video company called Fullscreen and a subscription video product. According to Recode, the deal is expected to close this summer.

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Coronavirus cases rise in 25 states

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Data: The COVID Tracking Project, state health departments; Map: Andrew Witherspoon, Sara Wise/Axios

New coronavirus infections rose over the past week in half the country.

Why it matters: The U.S. remains largely unable or unwilling to control the spread of the virus.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 33,976,447 — Total deaths: 1,014,266 — Total recoveries: 23,644,023Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 7,233,945 — Total deaths: 206,959 — Total recoveries: 2,840,688 — Total tests: 103,939,667Map.
  3. Education: School-aged children now make up 10% of all U.S COVID-19 cases.
  4. Health: Moderna says its coronavirus vaccine won't be ready until 2021
  5. Travel: CDC: 3,689 COVID-19 or coronavirus-like cases found on cruise ships in U.S. waters — Airlines begin mass layoffs while clinging to hope for federal aid
  6. Business: Real-time data show economy's rebound slowing but still going.
  7. Sports: Steelers-Titans NFL game delayed after coronavirus outbreak.
Updated 3 hours ago - Politics & Policy

Trump signs stopgap bill to prevent government shutdown

Senate Majority Leader Mitch McConnel and President Trump arrives at the U.S. Capitol in March. Photo: Samuel Corum/Getty Images

President Trump signed a bill to extend current levels of government funding after funding expired briefly, White House spokesperson Judd Deere confirmed early Thursday.

Why it matters: The move averts a government shutdown before the Nov. 3 election. The Senate on Wednesday passed the legislation to fund the federal government through Dec. 11, by a vote of 84-10.