Peter Chernin Posts

Blog startup Medium raises $25 million in funding

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Medium is a blog platform / digital magazine that has turned one year old. The startup has raised $25 million in Series A funding, which will be used for a larger office in San Francisco, hiring additional staff, and scaling infrastructure. Medium was founded by Ev Williams, one of Twitter’s co-founders. He previously bootstrapped the company through his startup Obvious Corporation.

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REPORT: Peter Chernin Bids $500 Million For Hulu

Peter Chernin, the former president of News Corp, has bid around $500 million for online video streaming service according to sources with Reuters. Peter Chernin even helped launch Hulu while he was at News Corp in 2007.

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Confirmed: Flipboard Raises $50 Million At A $200 Million Valuation

Flipboard CEO Mike McCue has confirmed that the company has raised $50 million at a $200 million valuation. Insight Venture Partners led this round of funding. “We’re obviously thrilled, because we think it confirms our focus that people want a beautifully designed way to interact with content and to share it,” stated McCue. “And there is a lot more to come–on a scale of one to 10, we’re just at a two or three.”
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Eric Schmidt, Sean Parker, Richard Rosenblatt, Peter Chernin, and Marc Andreessen Invest In Ari Emanuel’s Merchant Bank Raine

Former Google CEO Eric Schmidt, former Facebook president Sean Parker, Demand Media founder Richard Rosenblatt, former News Corp. COO Peter Chernin, Andreessen Horowitz co-founder Marc Andreessen, WPP, and Mubadala Development have invested in Raine. Raine is a merchant bank that was founded by Ari Emanuel and two former Wall Street dealmakers. Fans of the TV show Entourage will probably know Emanuel best for having the character Ari Gold based on him.
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Social Media Reading App Company Flipboard Raising Funding At $200 Million Valuation

Social media reading application company Flipboard is raising funding that would give them a $200 million valuation according to sources with AllThingsD. The valuation is subject to change. Flipboard was co-founded by Mike McCue and former Apple iPhone engineer Evan Doll. When Flipboard launched in January, they had raised $10.5 million in VC funding from Kleiner Perkins, Index Centures, Jack Dorsey, Dustin Moskovitz, Ron Conway, Ashton Kutcher, and Peter Chernin. Flipboard has zero revenue thus far. [AllThingsD]

Chase Carey Leaves DIRECTV To Join News Corp.

Chase Carey has been the President and CEO of DirecTV since December 2003.  This past week Carey stepped down from DirecTV and joined News Corporation to replace Peter Chernin.  At one point, News Corp. even owned 34% of DirecTV.  When Carey joined DirecTV, he left News Corporation.

To find a replacement for Carey, DirecTV formed a director committee.  As a temporary replacement EVP of Legal, HR, and Administration Larry Hunter has become the interim CEO of DirecTV.

“Chase has been an important advisor and a close friend to me for several decades,” stated Murdoch. “I know that his leadership, strategic capabilities and more than 15 years of experience at our company will prove invaluable as we face the challenges and opportunities before us.”

[via LA Times]

News Corp Launches Gossip Blog Daily Fill and Searches For Chernin Replacements

Daily Fill
News Corporation (NASDAQ:NWS) has a web incubator called Slingshot Labs.  One of the results from the incubator is Daily Fill, a gossip and entertainment blog.  In January alone, DailyFill had about 1.3 million unique visitors during the beta release.  News Corp plans to use the DailyFill to compete with Time Warner’s TMZ and independent blogger Perez Hilton.  The Daily Fill is covered with Photos, News, Celebrity Gossip, and blog posts.  The DailyFill opened out of Beta a few days after Nick Denton’s Defamer blog was rolled into

Chernin’s Departure
Recently Peter Chernin, head of News Corp’s Fox film stepped down after 12 years.  This left Rupert Murdoch in a compromised position.  Especially when Slumdog Millionaire walked away with 8 Oscars this past weekend.  Slumdog was made by Fox Searchlight.  Murdoch indicated before that he was interested in his children running the company one day.  But there are many other contenders.

Below is a list of Murdoch’s direct reports:

1. CFO, David DeVoe
2. General Counsel, Lawrence Jacobs
3. Global Marketing/Corporate Affairs, Gary Ginsberg
4. Fox Film, Jim Gianopoulos and Tom Rothman
5. Fox News/Fox Business Channel/TV Stations, Roger Ailes
6. Fox Network/Entertainment Cable Networks/RSNs, Tony Vinciquerra
7. News Corp. Europe/Asia, James Murdoch
8. Myspace/FIM, Peter Levinsohn
9. News America Marketing/NY Post, Paul Carlucci
10. Dow Jones/Wall Street Journal, Les Hinton
11. Harper Collins,  Brian Murray
12. News Limited, James Hartigan
13. Government Affairs, Michael Regan
14. Human Resources, Beryl Cook
15. Content, Anthea Disney

Who will fill in for Chernin, best known as being Murdoch’s number two?  Maybe we’ll see a reality show on FOX to determine the next executive.

[via VentureBeat, BI]