Watch: CBS 11 News live at 10p | TORNADO WARNING Hill, and Johnson counties until 11:30pm | SEVERE THUNDERSTORM WARNING Bosque, Ellis, Erath, Hill, Hood, Johnson and Somervell County until 11:45pm | TORNADO WATCH until 5:00am | Current Info | Live Radar | Traffic | View/Share Photos | Facebook | Twitter | Weather App

Local

AT&T Joins Crowded Field With Online Video Plans

View Comments
(Photo: Etienne FRANCHI/AFP/Getty Images)

(Photo: Etienne FRANCHI/AFP/Getty Images)

From Our CBS Music Web Sites

453641528 10 AT&T Joins Crowded Field With Online Video PlansAdorbale Baby Animals To Put A Smile On Your Face

150725619 10 AT&T Joins Crowded Field With Online Video PlansHot Models In Glasses

 alt=Musicians Then And Now II

452359780 10 AT&T Joins Crowded Field With Online Video PlansMissing Summer?

87222728 AT&T Joins Crowded Field With Online Video Plans8 Reasons to Have A Good Love Life

sx AT&T Joins Crowded Field With Online Video Plans Victoria's Secret Fashion Show

DALLAS, Texas  (AP) – AT&T and an investment firm run by former News Corp. executive Peter Chernin have formed an online video venture.

Dallas-based AT&T Inc. and Chernin Group said Tuesday they’ve committed more than $500 million in funding.

The Chernin Group is contributing its assets to the venture, including its majority stake in Crunchyroll, a subscription-based provider of anime videos.

AT&T already offers TV content through its U-Verse service, which competes with more traditional cable TV providers. With online video, though, it could attract customers of Netflix, Hulu, YouTube and other services — including people who’ve stopped paying for traditional broadcast, cable or satellite TV.

Rival Verizon Communications Inc. is planning similar services.

(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Latest News:

Top Trending:

View Comments