Otter already owned a majority stake in both companies. Some of Fulscreen’s minority owners included Fullscreen CEO George Strompolos, who had retained a “material ownership” stake, according to information the company released back in 2014. TV Tokyo, an early investor in Crunchyroll, had retained a minority stake in Ellation.
An Otter rep confirmed the transaction. “Marking a significant vote of confidence in its businesses, Otter has agreed to buy out all existing shareholders of each of Ellation and Fullscreen. Prior to this agreement, Otter owned more than 50% of each business.”
The buy-out comes just a few months after Digiday reported that AT&T may be looking to buy out Chernin and take sole ownership over Otter Media. It’s unclear at this point what the buy-out means for such a possible move.
AT&T and the Chernin Group officially announced their joint venture in early 2014, with both companies committing a total of $500 million in funding to acquire and build online video services. Otter purchased a majority stake in Fullscreen in 2014.
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The deal was first reported by VideoInk (subscription required).