The Chernin Group has acquired a majority stake in Crunchyroll Inc.
What? The Chernin Group has taken a majority stake in Crunchyroll.
Why it matters: The Chernin Group has alrealdy made investments in digital companies like Pandora, Flipboard or Tumblr.
The Chernin Group has acquired a majority stake in the anime-focused online video offering company Crunchyroll. Crunchyroll's senior management will maintain a stake, along with investor TV Tokyo.
Terms of the financial deal were not disclosed but Chernin was said to have spent somewhere under $100 million for the stake when rumors first surfaced back in October.
Crunchyroll Inc. provides anime videos to mobile devices, game consoles and Internet-connected TVs. It has launched an online store in May. Crunchyroll was founded in San Francisco in 2007 and launched two years later. In March, it said it had more than 200,000 premium subscribers. They pay $7 to $12 a month for high-definition streaming, discounts on merchandise and immediate access to new episodes after airing.
Chernin has made investments in media companies before: Pandora, Flipboard, Tumblr, and others.