Jeff Zucker is on the hunt for main leisure properties — with $1 billion in hand.
Jeff Zucker, RedBird Capital Companions, and Worldwide Media Investments introduced their partnership to create RedBird IMI, an funding enterprise targeted on the acquisition and funding of large-scale media, leisure, and sports activities content material on a worldwide foundation. RedBird IMI has an preliminary dedicated capital of $1 billion.
Chief Govt Officer of RedBird IMI, Jeff Zucker, can also be becoming a member of RedBird as an Working Accomplice. Zucker is a powerhouse with over three many years of management expertise throughout information, sports activities, leisure, and digital innovation. He was CEO of CNN from 2013 to 2022 and President of Turner Sports activities from 2019 to 2022. Jeff Zucker additionally spent 25 years at NBC Common, serving as CEO from 2007 to 2011. In 2007, he co-founded the net streaming service Hulu.
“I’ve spent 35 years working media companies on the intersection of reports, sports activities, and leisure, creating new manufacturers and resurrecting previous ones,” says Zucker.
“That have has given me unparalleled perspective for this distinctive time in media, and the mix of the RedBird and IMI capital and strategic self-discipline, mixed with my operational expertise, will give this three way partnership a singular benefit within the present media panorama.”
“The RedBird IMI three way partnership has come collectively at an vital time because the media trade continues to evolve in each content material creation and distribution to satisfy the evolving expectations of shoppers globally,” says Nart Bouran, CEO of IMI.
“Partnering with Jeff Zucker and Gerry Cardinale will allow us to convey great operational, investing, and monetary experience to make impactful and transformative investments throughout the media, leisure, and sports activities landscapes.”
“We’re more than happy to accomplice with IMI to create a long-term, totally capitalized funding automobile that may personal and function content-focused companies throughout the media spectrum within the US and globally,” provides Gerry Cardinale, RedBird Founder and Managing Accomplice.
“The ability and expertise of the mixed group will permit us to establish property that may profit from the event of success-based capital to additional scale or diversify whereas additionally enabling the event of latest firms competitively advantaged as market and client tendencies proceed to evolve.”
“With Jeff as our CEO, this platform will combine substantial working experience with refined monetary and investing acumen to deploy transformational capital on a scaled foundation.”