Former News Corp. President and Chief Operating Officer Peter Chernin has launched CA Media, which aims to build media and technology businesses in Asian countries including India.
CA Media, founded by The Chernin Group, is a company "that will strategically build, manage, and operate media, entertainment, and technology businesses throughout Asia" The firm will be initially focused on China, India, and Indonesia.
It will eye businesses in content creation (specifically, film and TV production), television networks, sports, education, advertising, and digital media.
Investors in CA Media include top media and entertainment I-banking firm Allen & Company LLC and Bain Capital affiliate Brookside Capital. Other investors include Gordon Crawford, and Kimberly Querrey, among others. The firm will look at tie-ups with local entrepreneurs and
companies in order to build these new businesses.
Peter Chernin will be Chairman of CA Media and Paul Aiello, who along with Chernin is a founding shareholder of the company, will be CEO. Aiello is familiar with the Asian markets as he was the former CEO of STAR Group Ltd and before that head of technology, media, and telecommunications investment banking for Morgan Stanley Asia.
"CA Media aims to capitalise on the compelling growth characteristics of these markets (China, India, and Indonesia). It will bring to bear the global management, strategy, and business-building experience of Chernin and the Asia Pacific operational and transactional experience of Aiello," the statement added.
“We see tremendous opportunity across Asia, but particularly in India, China, and Indonesia,” said Chernin. “These markets provide the ideal blend of economic, demographic, and industrial dynamism required to build a pan-Asian media organization of significant scale. In Asia,
there is less distinction between ‘traditional media’ and ‘new media.’ Nearly everything is growing, which allows for more robust prospects across the industry—prospects that we find enormously exciting.”
CA Media will be headquartered in Hong Kong and initially intends to build a local presence in India, China, and Indonesia.