Peter Chernin's Big Plans for Crunchyroll

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Dec. 2 (Bloomberg) -- Chernin Group, led by former News Corp. executive Peter Chernin, acquired a majority stake in Crunchyroll Inc., adding to a portfolio of Web companies with a site that streams Japanese cartoons. Jon Erlichman reports on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

Japanese anime, and one company took a majority stake in it.

Our own jon erlichman is in l.a. to explain.

Please explain.

What can you tell us about the company with a funny name?

It is a san francisco company founded by berkeley graduates, and you can get access to network television shows right after they are on tv or right around the same time, so it is a concept for japanese m&a -- anime, and they get access to the shows right after they have aired or right after the same time.

You can get them on playstation or xbox, and people pay.

They pay.

Earlier this year, it was something like 200,000 subscribers, and that number has continued to climb, so it is attractive.

They got started for less than $100 million.

What about the kinds of deals we are going to see in the entertainment industry?

A well-known person, someone who is a longtime fox executive, investing in young companies, a board member of both pandora and twitter, and they were involved in acquiring hulu, and they decided they were not going to sell that platform.

And they talk about this being an anchor platform for the chernin group, because it is the power of the platform.

Especially those who want to pay for content.

We saw it with hulu, and maybe

This text has been automatically generated. It may not be 100% accurate.

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