KKR said on Tuesday it has committed up to $300 million to making deals in the media and entertainment industries across Asia and bought a minority stake in the existing Asian media portfolio of The Chernin Group which was founded by former News Corp. president Peter Chernin.
KKR has set up Emerald Media, a new vehicle to fund the media investments and Los Angeles-headquartered film production and investment firm, The Chernin Group, will join as a minority co-investor.
“The growing middle class in the region is using its discretionary income on Internet connectivity, but the industry itself is fragmented,” Said Joseph Bae, Member of KKR Managing...
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