Chernin unveils pan-Asia media expansion

Two former senior News Corporation executives Peter Chernin and Paul Aiello have partnered to launch a pan-Asian media and entertainment group, CA Media.Headquartered in Hong Kong, the new company is chaired by former News Corp president Peter Chernin with ex-STAR CEO Paul Aiello signing on as CA Media's chief executive. Both Chernin and Aiello are founding shareholder of the company.Formed under Cherin's the Chernin Group, it will seek build, manage and operate media, entertainment and technology businesses throughout Asia.Focused initially on China, India and Indonesia, CA Media aims to capitalise on what it called "compelling growth characteristics" of these markets.It will bring to bear the global management, strategy, and business-building experience of Chernin and the Asia Pacific operational and transactional experience of Aiello."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 organization of significant scale.In addition to its principals' track records leading successful global media enterprises, CA Media will have the benefit of unique structural and operational independence.The company said it plans to team with local entrepreneurs, strategic partners and financing sources to launch new enterprises and enhance the growth of businesses in their formative stages."We are uniquely familiar with the development of the global media industry and we have distinctive insight into how it is likely to evolve in Asia," Aiello said. "We intend to make a meaningful contribution to this great story."Chernin is the founder of The Chernin Group and Chernin Entertainment, which manages, operates and invests in businesses in the media, entertainment, and technology sectors. Aiello has 24 years of professional experience as a media executive and investment banker, with most of his career focused on the Asia Pacific region.He served as CEO of STAR Group and oversaw News Corporation‘s investment in its joint ventures in India, China, and Indonesia.