{"id":4158,"date":"2012-04-23T00:00:00","date_gmt":"2012-04-23T00:00:00","guid":{"rendered":"http:\/\/worldscreen.com\/tvusa\/2012\/04\/23\/chernin-group-scores-200-million-in-private-equity\/"},"modified":"2012-04-23T00:00:00","modified_gmt":"2012-04-23T00:00:00","slug":"chernin-group-scores-200-million-in-private-equity","status":"publish","type":"post","link":"https:\/\/worldscreen.com\/tvusa\/chernin-group-scores-200-million-in-private-equity\/","title":{"rendered":"Chernin Group Scores $200 Million in Private Equity"},"content":{"rendered":"

LOS ANGELES: <\/span><\/span>Peter Chernin<\/span><\/span><\/a> has sold a minority stake in his Chernin Group to an investor group led by Providence Equity Partners for $200 million. <\/span><\/span><\/p>\n

Representatives of Providence will gain a spot on the Chernin Group’s board of directors. Chernin himself will become a senior advisor to Providence. <\/span><\/span><\/p>\n

With the injection, the Chernin Group plans to expand and diversify. The two companies will work together to invest in, acquire, build and operate media assets around the world, focusing particularly on the U.S. as well as Asia, with a focus on India, Indonesia and China. The money raised in the transaction will be primarily used for Chernin Group investments. <\/span><\/span><\/p>\n

"We have made tremendous progress to date, and we’re buoyed by the faith and enthusiasm of our new partners. Our goal is to build a global, diversified media company that leverages the key areas of value and growth in the world today—the importance of premium content; exploiting opportunities in emerging markets, specifically Asia; and technology’s disruptive impact on the media industry," said Chernin. "Providence brings an exceptional track record of identifying and supporting the growth of innovative media and entertainment companies. With their additional expertise and resources, we intend to expand our company across all fronts." <\/span><\/span><\/p>\n

"We have worked closely with Peter for many years and have tremendous respect for his extraordinary creative savvy and world-class business acumen," added Jonathan Nelson, the CEO of Providence. "We share the same outlook and enthusiasm for the significant media and entertainment investment opportunities around the world. Given our collective industry experience, network of relationships, and long-term commitment to these vibrant industry sectors, it is clear that together we have a team with tremendous depth of talent and expertise to build a media and entertainment company of scale. This partnership is already up and running, and we look forward to pursuing unique growth opportunities together."
\n <\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

LOS ANGELES: Peter Chernin has sold a minority stake in his Chernin Group to an investor group led by Providence Equity Partners for $200 million. Representatives of Providence will gain a spot on the Chernin Group’s board of directors. Chernin himself will become a senior advisor to Providence. With the injection, the Chernin Group plans …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[],"class_list":["post-4158","post","type-post","status-publish","format-standard","","category-top-stories"],"yoast_head":"\nChernin Group Scores $200 Million in Private Equity<\/title>\n<meta name=\"description\" content=\"Chernin Group Scores $200 Million in Private Equity. LOS ANGELES, April 23: Peter Chernin has sold a minority stake in his Chernin Group to an investor group led by Providence Equity Partners for $200 million. . 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