Chenal Media completed an expanded series of financing, raising $7m from iHaniel and private investors.
The series B round on August 25 comes after Chenal Media was spun off from parent company Chenal Brands (CBI) in 2010, and since then it has focused on the finance, development, co-production and distribution of independent feature films under $5m.
Chenal Brands’ chief executive Will Bermender a former NBC and Comcast executive has been drafted in as chairman of Chenal Media, a position he will serve concurrently.
iHaniel’s managing partner Tom Riskin said: “As the earliest investors in CMC, we are excited with the progress they have made, and the new entertainment products coming to market.”
In addition to Chenal Media, Chenal Brands also has controlling stakes in several radio stations which broadcast in the US state of Alaska.
Will Bermender, chairman of Chenal Media, said: “We are pleased to have iHaniel deepen and extend their support of our company and our intellectual property assets. Based on our progress since the first Series B closing, recent acquisitions, and the strong commercial traction we are already seeing in 2012, our Board and our investors have decided to increase their support to accelerate our growth.”