The Chernin Group, which has investments with technology and media companies around the globe, today announced it has secured “a significant equity investment” from Qatar Holding LLC. Terms of the deal were not disclosed, but reports value the deal at about $100 million.
TCG, which was founded by former News Corp. president and chief operating officer Peter Chernin, said this capital will be targeted toward media and entertainment operations in the U.S. and Asia. It already has investments in Pandora, Fullscreen, Tumblr, Flipboard and Scopely, among other companies.
“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,” said Chernin, founder and CEO of TCG. “This transaction 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.”
New York Times – Qatar Holdings Is Said to Invest $100 Million in Chernin Group
Wall Street Journal – Peter Chernin Raises $100 Million From Qatar Fund
Photo of Peter Chernin speaking at the 2009 World Economic Forum by Michael Wuertenberg for the World Economic Forum, used under Creative Commons license