CA Media, the Asian investment arm of former News Corp chief operating officer Peter Chernin's The Chernin Group, today said it has acquired a "large" minority stake in comic book and animation company, Graphic India.
Graphic India focusses on creating mythological and superhero characters, comics and stories for the Indian youth market and is published across digital platforms, including mobile phones and online.
"CA Media has acquired a large minority stake in Graphic India...Graphic India will now be jointly owned by Liquid Comics and CA Media," CA Media said in a statement.
Graphic India was launched last year by media entrepreneurs Sharad Devarajan, Gotham Chopra and Suresh Seetharaman as a subsidiary of US comic book company Liquid Comics.
No financial details were, however, disclosed. Devarajan will be appointed CEO of Graphic India and remain Executive Chairman of Liquid Comics.
As part of the transaction, Liquid Comics will contribute comic book libraries based on Indian characters to Graphic India, the statement said.
In addition to investment, CA Media will partner with Graphic India to provide industry expertise and create iconic franchises for Graphic¿s characters through multiple media within the Indian entertainment ecosystem.
"CA Media's aim is to create an ecosystem of diversified assets across media, where each asset not only unlocks its own value, but also adds to the rest of the portfolio," CA Media CEO Rajesh Kamat said.