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

Campaign Viral Chart: T-Mobile Super Bowl ad featuring Drake overtakes Heinz to top spot

Campaign Viral Chart: T-Mobile Super Bowl ad featuring Drake overtakes Heinz to top spot

The extended version of the spot takes the top position in a chart filled with Super Bowl ads.

Share
Johnston Press boss Highfield: i can win ad revenues from Times and Telegraph

Johnston Press boss Highfield: i can win ad revenues from Times and Telegraph

Ashley Highfield, the chief executive of Johnston Press, has hailed the acquisition of i as an opportunity to gain significant national advertising scale and win "some of the pounds from The Times and the Telegraph".

Share
ESI Media: Digital-only Independent can thrive because 'we believe in journalism'

ESI Media: Digital-only Independent can thrive because 'we believe in journalism'

The advertising boss of ESI Media has claimed The Independent can thrive as a strong digital-only brand because of its journalism and that other publishers will be looking to follow suit by shutting their print editions.

Share

Get news by email