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
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.

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

Waitrose boosts content strategy with 'Weekend Kitchen with Waitrose' C4 tie-up

Waitrose boosts content strategy with 'Weekend Kitchen with Waitrose' C4 tie-up

Waitrose has joined forces with Channel 4 and produced a Saturday morning lifestyle and cookery programme called 'Weekend Kitchen with Waitrose', with TV presenters Lisa Snowdon and Steve Jones signed up to front it.

Share
Newspaper ABCs: Guardian smashes through 100m browsers in March 2014

Newspaper ABCs: Guardian smashes through 100m browsers in March 2014

The Guardian reached more than 100 million monthly unique browsers for the first time in March, according to Audit Bureau of Circulations figures published today.

Share
Toyota achieves the impossible by calming angry Roman drivers

Toyota achieves the impossible by calming angry Roman drivers

Italians swearing and shouting while sitting behind the wheels of their cars and negotiating the busy streets of Rome could become a thing of the past if they all start driving Toyota's Hybrid vehicles, implies a short film for the car brand.

Share

Get news by email