News Variety: Chernin Group in 'Advanced Talks' to Control Crunchyroll
posted on 2013-10-30 23:20 EDT
The entertainment trade magazine Variety reported on Wednesday that Chernin Group, a company run by News Corporation executive Peter Chernin, is in advanced talks to buy a controlling stake in the media distribution service Crunchyroll. Variety states its information is from unnamed "industry sources." Chernin Group declined to comment to Variety, and Crunchyroll CEO and co-founder Kun Gao also did not comment on the deal.
One of Variety's unnamed sources said that Cherin Group's offer would value Crunchyroll at under US$100 million. The company's current investors include Venrock, the venture-capital arm of the Rockefeller family; Japanese media company TV Tokyo, and others. The source said that if the reported deal came to fruition, Venrock would relinquish its stake while TV Tokyo would remain an owner.