Dealmakers Impact Report 2012: Visionaries
Ever since he ankled News Corp., where he had served as president and COO, in 2009, Chernin has been building an impressive media property of his own. Starting fresh has enabled the exec to ignore traditional outlets and focus on higher-growth opportunities such as technology, premium content and social media. Shortly after his company received an investment of about $100 million from Qatar Holding last month, Chernin plunked down $10 million for a 28% stake in Base 79, the largest YouTube channel operator in Europe, the Middle East and Asia. This comes on top of earlier acquired stakes in digital companies Flipboard, Tumblr, Pandora and Scopely. TCG’s Asian investment arm, CA Media, in partnership with Endemol earlier this year bought a 49% stake in Endemol India, after receiving a $200 million infusion from Providence Equity Partners. That investment gave Providence a significant minority stake in TCG. Chernin also took a seat on the board of Twitter, and produces films like the upcoming “Parental Guidance” and TV shows (“New Girl, “Touch,” “Ben and Kate”) through Chernin Entertainment.