Chernin Group Grabs Majority Stake In Video Streaming Site

Law360, New York (December 3, 2013, 2:41 PM EST) -- Media holding company The Chernin Group LLC has picked up a majority stake in Japanese anime online streaming service Crunchyroll Inc. with intentions to expand the niche platform into other genres, according to a Monday statement.

The financial terms of the deal were not disclosed, however various media reports have valued the transaction at roughly $100 million. Crunchyroll's senior management and existing investor TV Tokyo will maintain a significant stake in the company, according to a statement.

Founded in 2007, the San Francisco-based online anime platform...
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