Qatar Holdings Is Said to Invest $100 Million in Chernin Group

Mario Anzuoni/Reuters Peter Chernin

LOS ANGELES - The Chernin Group, a private media company founded by a former News Corporation president, Peter Chernin, on Thursday continued to expand its financial support, this time with an equity investment from Qatar Holdings, the group said.

The investment by the Qatar firm, a unit of the government-backed Qatar Investment Authority, means it will be one of the two largest backers of the Chernin Group, along with Providence Equity Partners. Providence invested about $200 million in the Chernin Group this year.

“They're trying to give us more firepower,” said Mr. Chernin, who spoke by telephone on Thursday.

The two big investors, he said, “hav e significant interest in the possibility” of providing additional financing as potential media acquisitions, partnerships or other investments become available.

Mr. Chernin declined to say how much Qatar Holdings would immediately invest. But another person, who was briefed on the transaction and spoke on condition of anonymity because the partners had not disclosed terms, put the investment at about $100 million.

Mr. Chernin founded the media group after resigning his post at News Corporation in 2009. It has since been involved in the production of films like “Rise of the Planet of the Apes,” television series like “New Girl” and entrepreneurial ventures like Pandora and Tumblr.

Reports in October said the company was considering a merger with Endemol and the Core Media Group, a pair of television-oriented companies. Mr. Chernin declined to discuss any possible combination with Endemol or others.

The Chernin Group, through a unit based in Hong Kong, has focused particularly on Asia-based investments in the last year. Asked whether the addition of Qatar Holdings as an investor signaled any shift in emphasis, Mr. Chernin said: “No, it does not take me in any direction.”

Earlier Coverage of Peter Chernin

• 2010: For Chernin, an Empire of His Own
• 2009: News Corp. President Is Leaving

Michael Cieply covers the film industry from the Los Angeles bureau.