Company announced the investment in a statement issued Thursday, describing the stake as “large.”
Sharad Devarajan, Gotham Chopra and Suresh Seetharaman launched Graphic India as a subsidiary of U.S. comicbook company Liquid Comics last year with a focus on “creating mythological and superhero characters, comics and stories for the Indian youth market,” according to the statement.
As part of Thursday’s transaction, Devarajan will become CEO of Graphics India and remain exec chairman of Liquid Comics. Liquid Comics will also contribute its library of properties based on Indian characters to Graphic India and partner on various projects.
Graphic India meshes with Chernin’s appetite for high-growth trends, as the company run by Peter Chernin continues making diversified investments in budding digital ventures. Graphic India creates its content for multiple media, including mobile and online platforms.
Graphic India says it will take advantage of the enormous Indian youth market of 500 million consumers under age 25, many of whom use the country’s 850 million cellphones.
“CA Media’s aim is to create an ecosystem of diversified assets across media, where each asset not only unlocks its own value, but also adds to the rest of the portfolio,” said CA Media CEO Rajesh Kamat. “Graphic India is a valuable addition to this mix, especially in the youth segment.