Peter Chernin, the former president of Rupert Murdoch’s News Corp, has said he will set up a new media group aimed at helping start-up companies across Asia. Chernin said the Hong Kong-based venture, CA Media, would launch media, entertainment, and technology businesses to make the most of the “tremendous opportunity” the region represents.
“We see tremendous opportunity across Asia, but particularly in India, China, and Indonesia. These markets provide the ideal blend of economic, demographic, and industrial dynamism required to build a pan-Asian media organisation of significant scale. In Asia, there is less distinction between ‘traditional media’ and ‘new media'”.
“Many of these areas in Asia are so underdeveloped in terms of media, in some cases 10 years behind the US, and in others 20 years, and that presents a real opportunity,” Chernin told the WSJ.
Chernin left News Corp in June 2009.