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Otter Media, the joint venture of AT&T and The Chernin Group, has promoted Sarah Harden to president.
In her new role, Harden — who was previously executive vp strategy and investments at the digital media venture — will drive strategy and operations for Otter in tandem with TCG and AT&T.
“Sarah has been integral to Otter Media’s rapid development and success since formation,” said TCG president Jesse Jacobs. “She has successfully led a wide range of activities spanning M&A, operations, strategy and day-to-day execution. She has been a wonderful and effective partner, and I look forward to continuing our work to further develop and grow all of Otter’s OTT [over-the-top] businesses.”
TCG and AT&T formed Otter in April 2014 with a commitment of more than $500 million in funding to invest in, acquire and develop OTT video services. The entity has since acquired a majority stake in YouTube network and digital studio Fullscreen. It also owns anime offering Crunchyroll through its Ellation division.
Harden joined Otter in 2014 following the formation of the joint venture. Previously, she was executive vp at TCG, where she played key roles in the acquisition of Crunchyroll, the formation of Otter and Otter’s acquisition of Fullscreen. She currently sits on the boards at Fullscreen and Crunchyroll.
The former News Corp. executive has been focused on growing the Otter business over the last year and a half, developing, prioritizing and executing growth strategies for companies in the Otter portfolio as well as supporting development for Otter’s SVOD channels. She was instrumental in Fullscreen’s acquisition of digital studio Rooster Teeth and social-media firm McBeard.
Otter is expected to bring in revenue of $200 million for the year and reaches a combined more than 800,000 subscribers via its various subscription businesses. The company plans to launch a new subscription service early next year.
“Helping build and develop Otter Media since its inception has been an extremely rewarding experience and has laid a solid foundation for me to manage the venture in its next stage of growth,” said Harden. “I am thrilled to continue collaborating with my colleagues at The Chernin Group and AT&T, and at our portfolio companies Fullscreen and Ellation, to achieve our mutual, ambitious goals.”
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