AT&T joins partners in new digital media fund

AT&T is said to be taking a minor role in a new venture fund developed by the William Morris Agency, Accel Partners and Venrock to invest in digital media companies. For AT&T, the fund can give the company a front seat at the innovation happening in the very important segment of mobile advertising, but the fund and the other names involved in it also could be of great help as AT&T continues to refine its overall wireline/wireless consumer content approach.

Like many other high-tech giants, AT&T has had its own financing venture since the mid-1990s (now managed by Venture Management Services), but perhaps Hollywood, Silicon Valley and telecom companies can mitigate their risk while exploring the slippery digital media environment if they band together.

For more:
- see this story at The New York Times