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 | Qatar Holding injects USD100m in US-based TCG  | |
MENAFN -
- 10/11/2012
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(MENAFN) Qatar Holding was reported to have invested around USD100 million in The Chernin Group (TCG), a US media and entertainment, Arabian Business reported.
Peter Chernin, CEO of the group and former head of Twentieth Century Fox, said TCG has added Qatar Holding to its list of shareholders.
No specific financial terms were disclosed but US media reported the deal was worth about USD100 million.
The company said it plans to use the cash to expand and diversify its media and entertainment operations in the US and across Asia.
The Chernin Group is based in Los Angeles, California and its assets include Chernin Entertainment, which produces feature films and television programmes; a majority stake in Hong Kong-based CA Media, which builds, manages and operates media, entertainment and technology businesses in Asia; and several strategic investments in technology and media companies in the US.
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