Peter Chernin sets up Asian media firm

Former News Corp president Peter Chernin has set up a new Asian media firm.

CA Group will be based in Hong Kong and build, manage and operate TV, media and technology enterprises in the region.

Chernin will be chairman of the new venture and Paul Aiello, the former CEO of News Corp’s Asian broadcaster Star is on board as CEO. Aiello, a former investment banker, left Star last August.

In the TV sector, the new company will focus on producing content and on launching channels.

Chernin noted that many parts of the media sector in Asia are under-developed and present significant growth opportunities.

“We see tremendous opportunity across Asia, but particularly in India, China, and Indonesia,” Chernin said. “These markets provide the ideal blend of economic, demographic, and industrial dynamism required to build a pan-Asian media organisation of significant scale. In Asia, there is less distinction between ‘traditional media’ and ‘new media’.”

CA Group will also count Allen & Company and Brookside Capital among its investors.