US media firm acquires stake in Graphic India
Washington: CA Media, LP, the Asian investment arm of Los Angeles based The Chernin Group, LLC (TCG), has acquired a large minority stake in Graphic India, a comic book and animation company.
Graphic India is focused on creating mythological and superhero characters, comics and stories for the Indian youth market, published across mobile and online platforms.
Launched last year by media entrepreneurs Sharad Devarajan, Gotham Chopra and Suresh Seetharaman as a subsidiary of US comic book company Liquid Comics, it will now be jointly owned by Liquid Comics and CA Media.
Devarajan will be appointed CEO of Graphic India and will remain Executive Chairman of Liquid Comics, according to a news release.
As part of the transaction, Liquid Comics will contribute one of the world's largest and highest-quality comic book libraries based on Indian characters to Graphic India.
In addition to CA Media's investment, it 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, the release said.
"India is home to some of the most creative minds in the world, and we believe that the next Batman, Harry Potter, Pokemon or The Avengers, can come from this country," said Graphic India, Co-Founder & CEO, Sharad Devarajan.
"At Graphic India, we intend to find, nurture and promote a new generation of creators to transform the world with their stories. The team at The Chernin Group and CA Media bring an unparalleled level of experience in entertainment and we could not imagine a better partner to work with to launch this mission."
Graphic India intends to launch numerous new projects in the upcoming year showcasing original stories from young breakthrough talent as well as established Indian and global icons, the news release said.