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Chernin, AT&T Bet Online Film Stars Will Crash Hollywood’s Party

Peter Chernin, the former No. 2 in Rupert Murdoch’s media empire, and AT&T Inc. acquired a minority stake in Supergravity Pictures, a year-old company that makes movies featuring stars from YouTube and other websites.

Otter Media, a venture between the Chernin Group and AT&T, invested an undisclosed sum in Supergravity, which will use the money to add staff and make films for distribution in theaters and online, according to Supergravity founders Max Benator and Marc Hustvedt.