The Chernin Group has announced the formation and launch of CA Media, a company that will strategically build, manage, and operate media, entertainment, and technology businesses throughout Asia. Peter Chernin will be chairman of CA Media and Paul Aiello, who along with Chernin is a founding shareholder of the company, will be chief executive officer.
Focused initially on China, India, and Indonesia, CA Media aims to capitalise on the growth characteristics of these markets. The media company will explore opportunities in content creation (specifically, film and TV production), television networks, sports, education, advertising and digital media. The company plans to team with local entrepreneurs, strategic partners, and financing sources to launch new enterprises, enhance the growth of businesses in their formative stages and selectively pursue later-stage transactions.
“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.”
“We are uniquely familiar with the development of the global media industry and we have distinctive insight into how it is likely to evolve in Asia,” said Aiello. “We intend to make a meaningful contribution to this great story.”
In addition to The Chernin Group and Aiello, the initial investors in CA Media include Allen & Company LLC, Brookside Capital (an affiliate of Bain Capital), Gordon Crawford and Kimberly Querrey, among others.
Chernin is the founder of The Chernin Group and Chernin Entertainment. The Chernin Group manages, operates and invests in businesses in the media, entertainment and technology sectors. Chernin Entertainment produces feature films and television programs. Chernin previously served as president and chief operating officer of News Corporation and chairman and chief executive officer of the Fox Group.
Aiello has 24 years of professional experience as a media executive and investment banker, with most of his career focused on the Asia Pacific region. Most recently, he served as the chief executive officer of STAR Group Ltd, where he was responsible for 68 pay channels in 15 languages distributed in more than 65 countries around the world. In addition, he also oversaw News Corporation's investment in its joint ventures in India, China, and Indonesia, among other countries in the region. Prior to joining STAR, Aiello was the head of technology, media, and telecommunications investment banking for Morgan Stanley Asia.
CA Media will be headquartered in Hong Kong.