Chernin Group gets $100 mn investment from Qatar Holding

MUMBAI: After securing $200 million from Providence Equity Partners, former News Corp president and COO Peter Chernin?s global media investment company The Chernin Group has received $100 million from Qatar Holding.

The deal makes TCG one of the first media investments from Qatar Holding, which has stakes in Barclays Bank, Harrods of London and Volkswagen.

The funding considerably expands TCG?s ability to make strategic acquisitions. It will use this capital to expand and diversify the company?s media and entertainment operations in the US and across Asia.

TCG Founder and CEO Peter Chernin said, "Building on our successful investment partnership with Providence formed earlier this year, we are pleased to expand our formidable shareholder group with the addition of Qatar Holding, a distinguished investor and strategic partner. This capital and partnership positions us well to continue to pursue the most compelling areas of growth in the global media industry."

TCG?s assets include Chernin Entertainment, which produces feature films and television programs; a majority stake in Hong Kong-based CA Media, which builds, manages and operates media, entertainment and technology businesses in Asia; and several strategic investments in technology and media companies in the U.S. including Pandora, Fullscreen, Tumblr, Flipboard and Scopely.

In India, TCG?s CA Media is headed by Rajesh Kamat as its India CEO. Kamat had joined the company in April last year, after quitting Viacom18 as Group COO and Colors CEO.

CA Media, TCG?s Asian media investment arm, had earlier this year acquired 49 per cent stake in production house Endemol India and in an undisclosed music, live events and youth media company.