Press release

Otter Media to Realign Under WarnerMedia Entertainment

Sponsored by Businesswire

WarnerMedia announced today that Otter Media is being realigned under
the WarnerMedia Entertainment group run by Bob Greenblatt, Chairman of
WarnerMedia Entertainment and Direct-To-Consumer. This will bring
together the significant digital businesses of the company at a time
when the organization’s new direct-to-consumer platform is being built
with access to content from HBO, the WarnerMedia cable networks, Warner
Bros., plus a robust slate of new original content.

Tony Goncalves, CEO of Otter Media, will now also lead the development
of the new WarnerMedia direct-to-consumer service, along with Otter’s
existing brands and services. He will report to Greenblatt. Andy
Forssell, most recently COO of Otter Media and former CEO of Hulu, will
move to the role of EVP and General Manager of the new streaming service
reporting to Goncalves. Kevin Reilly, President, TBS/TNT/TruTV and Chief
Content Officer of Direct-to-Consumer, will remain in that position
reporting to Greenblatt. Brad Bentley, who was serving as the streaming
service’s general manager, informed the company that he would be leaving.

“As we continue to build out our new streaming business and realign
WarnerMedia functions, this step will facilitate further scale and focus
in our efforts to offer customers an engaging and compelling product
experience,” said John Stankey, CEO, WarnerMedia. “I’m confident that
with Tony and Andy leading our product and operations, Kevin and HBO’s
Casey Bloys guiding our content strategy, and with Bob at the helm, we
have a formidable team creating a curated streaming service with a
winning combination of content and features. I also want to thank Brad
for his leadership in bringing the project to this point in record time.”

“The thriving Otter Media businesses are important to this company and
I’m happy to welcome Tony and Andy to our direct-to-consumer team,”
added Bob Greenblatt. “This group’s expertise will be invaluable to our
new streaming service as we aim to bring content from the best
storytellers in the world to an audience that expects the highest
quality digital experience.”

Goncalves joined Otter Media, the leader in fan-centric, digital-first
entertainment, as CEO last year. Through AT&T’s acquisition of DIRECTV,
he served as CEO of Digital Brands and Head of Strategy and Business
Development for AT&T where he helped the company navigate the rapid pace
of change in a digital centric world.

Forssell currently serves as EVP and Chief Operating Officer of Otter
Media, as well as President of Fullscreen. He joined Otter from
Fullscreen where he served as COO for several years, overseeing the
company’s day-to-day operations, as well as leading technology and
product development. Forssell has served in a number of CEO, COO and
general management roles, at companies like Hulu and ShowYou, helping to
define and evolve the world of streaming video from its infancy.

About WarnerMedia

WarnerMedia is a leading media and entertainment company that creates
and distributes premium and popular content from a diverse array of
talented storytellers and journalists to global audiences through its
consumer brands including: HBO, Warner Bros., TNT, TBS, CNN, DC
Entertainment, New Line, Cartoon Network, Adult Swim, Turner Classic
Movies, truTV and others.

WarnerMedia is part of AT&T Inc. (NYSE:T).

About Otter Media

Otter Media is a digital media company focused on engaging and
entertaining fans globally, enabling passions to thrive. The company was
formed by AT&T and The Chernin Group in 2014 and was recently
fully-acquired by AT&T. Otter invests in, grows and operates companies
involved in digital marketing, social media, video services, content
development, production and distribution, ultimately building the next
wave of consumer brands built around passion and true community.

Otter Media’s portfolio includes Fullscreen, a leader in
social-first entertainment experiences serving creators and brands; Crunchyroll,
the world’s most popular anime brand, boasting a global community of
more than 12 million monthly site visitors and over 2 million
subscribers; VRV, a fast-growing entrant in the SVOD space and
audience-focused aggregation platform; Rooster Teeth, a media and
entertainment company serving the gaming community with a footprint of
more than 40 million subscribers to its YouTube network, over 5 million
monthly visitors to, and 2.5 million registered
community members; a majority stake in Gunpowder & Sky, a
digital-first studio creating and distributing innovative, edgy and
narrative-driven content independent of form, genre or platform; and
minority stakes in Hello Sunshine, a cross-platform brand and
content company for women founded with Reese Witherspoon, and Mars
, a media and lifestyle brand focused on telling authentic
stories of top high school athletes through premium video content.