Peter Chernin invests $10m in Kelvin MacKenzie's son's business
Former News Corporation executive Peter Chernin is investing more than $10m (£6.3m) in Base79, the UK online video company that says it is YouTube's largest original programming partner in Europe.
Ashley MacKenzie: founder and chief executive of Base79
The Chernin Group (TCG), the media business founded by Chernin, has paid out for a stake which is in excess of 25%, according to Base79.
Base79 has offices in London, New York and Sydney and was founded in 2007 by Ashley MacKenzie, son of former Sun editor Kelvin MacKenzie.
The company has earmarked the proceeds from the investment to help its expansion across Europe and into new regions, to build brands and channels.
Base79 partners with video rights holders and producers to build online audiences and brands.
It has so far partnered with more than 300 content producers and rights holders, including the likes of Simon Cowell’s SyCo, BBC Worldwide, and Guinness World Records. It claims to be involved in 550 YouTube channels, which draw 550 million monthly views.
One source close to Base79 said the investment was close to 30% and was nearer to a $20m (£12.5m) contribution.
Ashley MacKenzie, founder and chief executive of Base79, said: "We have experienced extraordinary growth and believe this partnership will allow a new chapter of even greater opportunity."
Chernin spent more than 10 years as chief operating officer of Rupert Murdoch's News Corporation. He then went on to launch feature films.Follow @johnreynolds10
This article was first published on mediaweek.co.uk
Latest jobs Jobs web feed
- Account Director- Exciting Online Content Marketing Company- Up to £70,000 plus OTE Cedar Scott Up to £70,000 basic (up to £90,000 OTE) plus share options, Central London
- Category Manager Pearson Competitive salary & performance related bonus & benefits, Central London
- Global Product Manager Evans Taylor c£50k - c£60k p.a. plus car, bonus and benefits, North East of England or Central London
- Retail Marketing Manager - Maternity Cover Tottenham Hotspur Football Club Up to £35,000 pro-rata, Tottenham and Enfield
- Brand Manager Radisson Blu Edwardian, London Competitive , South Kensington, London
- ACCOUNT DIRECTOR/SENIOR ACCOUNT DIRECTOR - BTL/SP/Brand Experience - London - £45 - £55k plus bonus Judi Patton £45K-55K plus bonus, London/Greater London
Integrated digital marketing offers huge opportunities to engage, servic...
Mobile marketing is coming of age, and the pace of change is now exponen...
With UK consumers spending an average of £1,083 a year online, int...
Conversational Mobile Marketing: Engage Customers and Empower Advocates (Expert Reports) External website
The pressure is on for marketers and mobile operators to embrace a strat...
As a nation, the UK is media and technology obsessed with over half of t...
All customers have the potential to become your brand advocates, driving...