Chernin Group, Private Equity Firm KKR Announce $300M Asian Media Platform

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Peter Chernin

Peter Chernin's The Chernin Group will hold a minority stake in Emerald Media, which will fund investments across Asia.

Former News Corp. president and COO Peter Chernin's The Chernin Group (TCG) is expanding further into Asia with a new partnership with New York-based private equity firm KKR.

The alliance sees the creation of a new media investment platform, Emerald Media, for which KKR has committed up to $300 million, with TCG joining as a minority co-investor. In addition, KKR also has acquired an unspecified minority stake in TCG's Asian investment arm CA Media.

According to the companies, Emerald Media will provide capital between $15 million and $75 million “for both control and significant minority positions to media, entertainment, and digital media businesses in Asia.” No further details were given as to which businesses Emerald Media plans to invest in.

CA Media's existing portfolio includes investments in Indonesia and India where its assets include television content producer Endemol Shine India, comic character and animation company Graphic India, music management company Only Much Louder and Fluence, which manages the digital rights of top Bollywood stars such as Amitabh Bachchan. CA Media recently expanded its Indian digital business with the launch of video-blogging platform Wakau, which will feature top celebrities such as Bachchan.

With offices in Hong Kong, Mumbai and Singapore, Emerald Media will be jointly headed by CA Media top executives, group CEO Paul Aiello and group COO Rajesh Kamat. Aiello was former Star TV Asia CEO, while Kamat was former COO of Viacom's India joint venture Viacom 18.