MMC's Base79 gets equity injection from Chernin

Chernin's reported acquisition of 28% for $10m values Base 79 at $36m.

The new capital will be used to support the company's expansion throughout Europe over the next 12 months.

In September 2011, MMC invested £2.75m in Base79. Chernin itself is private equity-backed: the group, founded by former News Corp president Peter Chernin, received a significant investment from an investor group led by Providence Equity Partners in April.

Company
Base79 is an online video company headquartered in London and New York with another office located in Sydney. Founded in 2007, the company manages a network of content for companies and artists.

It runs 550 YouTube channels and also licenses content to Hulu and Netflix. Its partnership base includes BBC Worldwide and Guinness Wolrd Records. Before being rebranded as Base79, the company was known as myvideorights.

People
Peter Chernin led the investment for Chernin. Bruce Macfarlane handled the transaction for MMC. Ashley MacKenzie is founder and CEO of Base79. 

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