Crunchyroll, an online video company focused on streaming Japanese animation, sold a majority stake to the Chernin Group. The investment group, led by former Fox executive Peter Chernin, confirmed the transaction Monday, but did not say how much it paid. According to a report in the New York Times, the investment was worth less than $100 million.
In October, AllThingsD reported that the Chernin Group was in the process of buying control of the San Francisco-based Crunchyroll. The company had been financed by Venrock, TV TOKYO and a group of independent investors.
According to the Times, Crunchyroll has amassed more than 300,000 subscribers who pay about $7 a month for access to the site. Chernin told the Times that Crunchyroll deserves "credit for building a great subscription video platform."
The Chernin Group was among those said to have been interested in acquiring Hulu earlier this year.
- read the press release
- the New York Times had this report
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