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    52-year old Peter Chernin does not come across like your typical media CEO.

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  • The Chernin Group invests in online Latino content provider

    Submitted by ITV Production on Dec 14
    indiantelevision.com Team

    MUMBAI: MiT?, the leading multi-channel YouTube network exclusively dedicated to Latino content, has closed financing, led by The Chernin Group (TCG).

    Co-investors in the funding round include Machinima Chairman, CEO and co-founder Allen DeBevoise; Juan Crist?bal Ferrer of Ferrer Comunicaci?n, a Mexico City-based advertising agency; Advancit Capital, a venture capital firm founded by Shari Redstone and Jason Ostheimer; and CODE Advisors. TCG will join MiTu?s board of directors.

    Founded and led by Latino TV industry veterans Doug Greiff, Beatriz Acevedo, and Roy Burstin and headquartered in Los Angeles, MiT? partners with talented Latino content creators to launch and grow their English and Spanish-language channels on YouTube, expand their audiences, scale their production, and connect them with the global marketplace.
     
    With a brand that represents a content experience focused on a young and growing global Latino audience, the MiT? Network is principally focused on lifestyle content verticals including beauty, fashion, health, food, home and pop culture.

    Since MiT??s launch seven months ago, the network now features more than 350 channels from North America, Latin America, Europe and Asia, and has accumulated more than 800 million total network views across a subscriber base exceeding 2.3 million.

    Proceeds from this investment will be used to expand MiT??s US, Mexico and Colombia channel recruiting, partnerships, and monetization teams.

    ?The MiT? opportunity combines two powerful trends: one, the Latino audience is one of the fastest-growing and youngest demographics in the world and two, YouTube is the largest and fastest-growing online video platform in the world,? said TCG Founder and CEO Peter Chernin.

    ?MiT? not only identified those two trends, but also has been aggressive and smart about launching a consumer-focused brand in this market, targeting a younger Latino audience whose needs are unmet by traditional television. The early results have been astounding and we?re thrilled to partner with them to continue to grow the business.?

    ?The young global Latino audience is looking for a media brand that speaks to them,? said MiT? CEO Roy Burstin. ?MiT? will be that brand and partnering with The Chernin Group and our other strategic investors accelerates our ability to reach this goal.?

    ?As a bi-cultural Latina, as well as a professional content creator, I am proud to help build a new platform and creative outlet for Latinos, empowering them to become successful media entrepreneurs,? stated MiT? co-founder Beatriz Acevedo. ?We are also developing innovative content with Hispanic YouTube influencers with large, established followings, providing great opportunities for brands to engage important audiences in a scale-based, but targeted, manner.?

    Strategic Law Partners LLP provided legal counsel to TCG. Gunderson Dettmer provided legal counsel to MiTu.

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  • Chernin Group gets $100 mn investment from Qatar Holding

    Submitted by ITV Production on Nov 12
    indiantelevision.com Team

    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.

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