Chernin Group, Comcast, WPP invest in Fullscreen

Chernin Group, Comcast, WPP invest in Fullscreen

By Dawn C. Chmielewski

Fullscreen, a digital media company that has built one of the largest network of channels on YouTube, has closed a round of Series A funding with backing from heavy hitters in the traditional entertainment world — the Chernin Group, Comcast Ventures and WPP Digital.

The parties refused to disclose the size of the investment, which is believed to be in the “eight-figure range.”

“We think there’s tremendous opportunity in the digital media space to build a truly next-generation global media business,” said Fullscreen Founder and Chief Executive Officer George Strompolos. “We raised this round for the purposes of really trying to go after that opportunity.”

Strompolos said the infusion of cash will allow Fullscreen to increase its investment in original programming, expand its presence outside of North America in markets where it sees opportunities, such as Brazil, India, Japan, Mexico and Russia, and invest in technology and sales.

This is an excerpt. Click here to read the full article in The Los Angeles Times.