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Report: AT&T plans to buy all of Otter Media

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.