Peter Chernin has launched a major new global content production studio, The North Road Company. With up to $800 million in financing from two private equity firms, Providence Equity Partners and Apollo, the Chernin Group co-founder’s latest venture combines three studios into one: Chernin Entertainment, Words + Pictures and the U.S.
assets of Red Arrow Studio. The latter company is the studio behind Netflix’s “Love Is Blind” and Showtime’s “The Circus” and was recently acquired from Germany’s ProSiebenSat.1 Group for a reported $180 million.
Chernin launched documentary production company Words + Pictures last year with ESPN’s Connor Schell and Chernin Entertainment’s own Jesse Jacobs; the North Road absorbs that company’s remaining 50%.
More acquisitions by the North Road are expected to come, particularly in the international space and in unscripted and scripted programming.
Read more on thewrap.com
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