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Qatar Holding Invests in Top US Media Firm

Qatar Holding Invests in Top US Media Firm

Inside a statement, the company said it plans to use the injection of funds to grow and diversify its media and entertainment operations in america and across Asia.

Qatar Holding has made a “significant equity investment”, reportedly around $100m, inside a US media and entertainment firm run through the former head of Last century Arabianbusiness reported.

Qatar Holding Invests in Top US Media Firm

Qatar Holding Invests in Top US Media Firm

Peter Chernin’s The Chernin Group said hello has added Qatar Holding to the list of shareholders.

Inside a statement, the company said it plans to use the injection of funds to grow and diversify its media and entertainment operations in america and across Asia.

No specific financial terms were disclosed but US media reported the offer was worth about $100m.

“We are content to expand our formidable shareholder group with the help of Qatar Holding, a distinguished investor and strategic partner,” said Chernin, the founder and CEO of TCG.

“This transaction marks another essential milestone in our company’s evolution. This capital and partnership position us well to carry on to pursue probably the most compelling areas of development in the global media industry.”

Ahmad Al-Sayed, the md and CEO of Qatar Holding, added: “Peter Chernin is building TCG right into a world-class media company. He and the team have proven success in identifying and developing opportunities in america and Asia.

“We anticipate partnering with TCG and Providence, working closely together, supporting the ongoing growth and development of their current portfolio of investments along with the company’s growth through future endeavors.”

Jonathan Nelson, the CEO of Providence, a current shareholder, said, “We are looking forward to TCG’s momentum since our investment and therefore are pleased to welcome Qatar towards the partnership.”

The Chernin Group relies in Los Angeles, California and it is assets include Chernin Entertainment, which produces movies and television programmes; a big part stake in Hong Kong-based CA Media, which builds, manages and operates media, entertainment and technology businesses in Asia; and several strategic investments in technology and media companies in america.

Prior to starting TCG, Chernin served as president and chief operating officer of News Corporation.

Qatar Holding also offers key investments in Agricultural Bank of China, Barclays, Canary Wharf Group (via Songbird Estates), Credit Suisse Group, Harrods Group, Hassad Food Company, Iberdrola, J Sainsbury, London Stock market, Lagardere, Porsche, Qatar Exchange, Qatar Telecom, Qatar National Bank, Santander Brasil and Volkswagen.

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