Friday, November 9, 2012
The Chernin Group Gets Strategic Investment
Los Angeles-based The Chernin Group, the media holding company and investor led by Peter Chernin, said Thursday afternoon that it has received a "significant" equity investment from Qatar Holding LLC. Size of that investment was not disclosed. The Chernin Group said the new investment, along with an existing investment from Providence Equity Partners and others, will be used to expand and diversify its media and entertainment operations. The Cherin Group owns stakes in such companies as Pandora, Fullscreen, Tumblr, Flipboard and Scopely. TCG said it was advised by Allen & Co. LLC and Gibson, Dunn & Crutcher LLP in the deal; Qatar Holding was represented by White & Case LLP. AllThingsD pinned the size of the round at $100M.