Variety: Chernin Group in 'Advanced Talks' to Control Crunchyroll

posted on 2013-10-30 23:20 EDT
Magazine: News Corp. executive's company's offer would value media service at under US$100 million

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.

Crunchyroll launched its Crunchyroll Manga service on Wednesday. The company offers simulcast services in North America, France, Spain, Portugal, and Latin America.

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