Hi Jack. I tossed this around for a bit and came up with something that worked on my test system. You may need to adjust it for your configuration.
1. Copy content-featured.php to your child theme.
2. Wrap the post meta block with a <div>:
<div class="post-info">
<div class="post-meta group">
<p class="post-category"><?php the_category(' / '); ?></p>
<p class="post-date"><?php the_time('j M, Y'); ?></p>
</div><!--/.post-meta-->
<h2 class="post-title">
<a href="<?php the_permalink(); ?>" rel="bookmark" title="<?php the_title(); ?>"><?php the_title(); ?></a>
</h2><!--/.post-title-->
<?php if (ot_get_option('excerpt-length') != '0'): ?>
<div class="entry excerpt">
<?php the_excerpt(); ?>
</div><!--/.entry-->
<?php endif; ?>
</div> <!--/.post-info-->
3. Add the following css:
/* set post meta items background; add padding right for white space */
.post-meta .post-category, .post-date, .post-title a, .entry.excerpt {
background-color: #fff;
margin-right: 0;
padding-right: 10px;
}
/* reduce vertical spacing */
.post-meta, .featured .post-title, .entry-excerpt {
margin-bottom: 0;
}
/* reduce line height to remove remaining space above/below title */
.featured .post-title {
line-height: 1.2em;
}
/* pull meta info container up onto the image */
.post-info {
position: absolute;
margin-top: -130px;
}
On my test system it was responsive down to 720px and then the vertical spacing spread out a bit so you may need to adjust it in a media query.
Hope that helps.