Qatar fuels Chernin funding

US media firm The Chernin Group (TCG) has added to its global acquisitions war chest by securing a “significant equity investment” from Qatar Holding.

Terms of the deal were not disclosed but reports in the US value Qatar’s investment at about US$100m.

The financial boost comes on the heels of an existing investment in TCG by Providence Equity Partners, worth an additional US$200m.

And it will enable former News Corp president Peter Chernin’s imprint to further its expansion and acquisition ambitions in the US and Asia.

Chernin, founder and CEO of TCG, said the investment pact “marks another important milestone in our company’s evolution. This capital and partnership position us well to continue to pursue the most compelling areas of growth in the global media industry.”

Providence, which sold its 10% stake in US VoD platform Hulu last month, took an undisclosed minority stake in TCG as part of its multimillion-dollar investment in April. Chernin worked closely with the company as News Corp’s lead on the Hulu joint venture.

TCG was launched in 2009 after Chernin left News Corp.

The new company’s assets currently include Chernin Entertainment (New Girl, Touch) and Asian-focused CA Media, which in April bought a 49% stake in Endemol India.