Chernin enters video streaming business
Former News Corp boss Peter Chernin has bought a controlling stake in Crunchyroll. His Chernin Group is paying about $100 million for San Francisco-based Crunchyroll, which at the moment specialises in Japanese animation.
The Chernin Group is backed by Qatari government funding. Chernin was earlier attempting to buy Hulu, a TV and video streaming service.
Chernin, in a statement said that he would use Crunchyroll as the core to a new service with added channels in different genres.
Crunchyroll was founded in 2006 by a group of Californian university graduates and current specialises in anime, drama, manga, music and electronic entertainment. Investors to date include TV Tokyo and the Rockefeller family venture capital group Venrock.