Karga Seven Pictures changes ownership

Karga 7 Pictures

North Road, owned by Peter Chernin, has completed its first major international acquisition by acquiring one of the leading Turkish film and television studios, Karga Seven Pictures.

Based in Istanbul and Los Angeles, Karga Seven is best known for its English-language historical projects “Rise of the Ottoman Empire” and “Midnight at Pera Palace,” as well as the Turkish drama series “Hekimoglu,” based on the American series “House.”

In 2015, Karga Seven received a major investment from Red Arrow. Last year, North Road acquired Red Arrow’s assets in the United States in a deal worth approximately $200 million. This separate deal represents North Road’s largest foreign investment to date. According to Peter Chernin, the plan is for Karga Seven’s management to receive the support of North Road’s resources and infrastructure for further company development. It’s worth noting that he also holds $500 million in shares of the Hulu service.

The founders of Karga Seven, Emmy-nominated producers Sarah Wetherbee, Emre Sahin, and Kelly McPherson, will remain in executive positions. Wetherbee and Sahin will become the company’s co-CEOs worldwide, McPherson will lead English-language content, and recently hired Omer Muhterem Ozturk will serve as the CEO of Karga Seven in Turkey.