| LOS ANGELES
LOS ANGELES Nov 8 Former News Corp
President Peter Chernin, whose two-year-old company produces
"The New Girl" TV show and owns a stake in online music service
Pandora, received a "significant" investment from the Qatar
Holding Company to invest in media and technology companies.
The investment by Qatar Holding, an arm of the
oil-rich state, follows an investment in April by a group led by
Providence Equity Partners. The two infusions give privately
held The Chernin Group nearly $300 million to expand the media
holding company, according to one person with knowledge of the
Chernin intends to use the funds to add investments in the
United States and Asia, the source told Reuters, but did not
mention potential acquisitions. Terms of Qatar Holdings's
investment were not disclosed.
Chernin, who left News Corp in 2009 after 13 years as chief
operating officer, is aggressively building a media holding
company. In April, it acquired 49 percent of production house
Endemol India, with the goal of making it a leading TV, film and
content producer in the country.
The company also owns a stake in Legend Fighting
Championship, a Hong Kong-based mixed arts promoter.
"We're building a media and consumer technology
(company)that will invest in premium content and digital media,"
Chernin said in an interview. "This gives us significant capital
and expertise to significantly increase our efforts."
News reports said his company was interested in Endemol, the
company that produces the CBS show "Big Brother" and ABC's
"Extreme Maker Home Edition."
Chernin would not comment on the reports.
His company already has invested in digital companies,
including online video company Fullscreen, video posting service
Tumblr, and social gaming creator Scopely, according to its
Chernin, who produces films and TV shows financed by News
Corp's Fox, produced the 2011 film "Rise of the Planet of the
Apes," which generated $481.8 million in worldwide ticket sales.
He also produces the Fox shows "Touch" and "Ben and Kate."