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AT&T wants to power the next big video streaming service
AT&T has a new way to take on TV-threatening internet video services like Netflix: it's going to offer a few services of its own. The telecom is teaming up with the Chernin Group -- previously a bidder in the Hulu sweepstakes -- to start a venture that will "acquire, invest in and launch" both online video platforms and on-demand TV channels. While the two companies aren't saying much about their plans, they're already willing to pledge over $500 million to the project and fund providers whether they're ad-supported or subscription-based.
