×

Chernin takes stake in UK digital network

Firm grabs 30% of Base79 for $10 million

The Chernin Group has acquired a stake in Base79, a leading online video network specializing in building robust channels on YouTube for premium content partners out of the United Kingdom.

Chernin has invested $10 million for about 30% of Base79, which has over 500 YouTube channels including BBC Worldwide, Endemol’s Tiger Aspect, IMG Media and Simon Cowell’s SyCo.

“For tens of millions of people, generally under the age of 30, these YouTube networks are their BBCs, their RTLs and their Canal+’s,” said Jesse Jacobs, president of Chernin Group. “While it’s not ingrained into how most people think about channels and networks, the audience is there today and growing fast.”

The funding is aimed at fueling growth plans at Base79, which is already has the biggest collection of YouTube networks outside the U.S. Last month, the company secured four new channel partnerships as a part of YouTube’s new original channels initiative, making it Europe’s largest YouTube original programming partner.

Base79 isn’t Chernin’s first investment in the YouTube network category; he also invested last year in one of the leading YouTube networks in the U.S., FullScreen.

Popular on Variety

More Digital

  • United Talent Agency Reveals New Logo

    UTA Unveils New Logo, Corporate Image

    UTA raised the curtain Monday on a new corporate logo. The three-dimensional image is meant to emphasize the talent agency’s focus on uniting ideas, opportunities and talent. Building signage with the new logo will go up next month at UTA’s headquarters in Beverly Hills. “Our new identity captures the multiple facets and intersections of our [...]

  • Altice One set-top

    Amazon Prime Video Coming to Altice's Optimum, Suddenlink Cable Services

    Altice USA plans to launch Amazon Prime Video for Optimum and Suddenlink cable customers nationwide in the next few months, under a pact announced Monday. Altice is the third pay-TV operator in the U.S. with a distribution deal for Amazon Prime Video, after Comcast and Cox Communications. The cable operator is adding Prime Video to [...]

  • youtube leanback screenshot

    YouTube to Shut Down Leanback Web TV Interface on October 2

    YouTube is getting ready to retire its TV-optimized browser interface, also known as YouTube Leanback, on October 2, Variety has learned. The move comes as YouTube is putting a bigger emphasis on its native TV apps, but also represents a blow to users who directly connected their PCs to their TVs. YouTube started to inform [...]

  • Terminator: Dark Fate

    Paramount & Adobe Launch ‘Terminator: Dark Fate’ Trailer Remix Contest

    Adobe has teamed up with Paramount Pictures to launch a remix contest for the trailer of “Terminator: Dark Fate,” which is set to debut in theaters November 1. The winner of the contest will get $10,000 as well as a one-year Adobe Creative Cloud membership and a private screening of the movie for up to [...]

  • Gabrielle Carteris

    SAG-AFTRA Urges Gavin Newsom to Sign Law Punishing 'Deep Fake' Videos

    SAG-AFTRA National Executive Director David White is urging Gov. Gavin Newsom to sign legislation that institutes penalties for nonconsensual digital sexually explicit videos, also known as “deep fakes.” The legislation, Assembly Bill 602, targets companies and individuals who create and distribute the videos in California without the consent of the individual being depicted. “We urge Gov. [...]

  • Facebook Portal logo

    Facebook Is Launching a Portal TV Device: Here’s What We Know

    Facebook is getting ready to launch a TV streaming device in time for the holiday season, Variety has been able to confirm with multiple sources familiar with the company’s plans. The new streaming hardware will be part of the company’s Portal family of devices, featuring a camera, and combining video chatting with TV viewing and [...]

More From Our Brands

Access exclusive content