Jeff Zucker, whose nine-year run atop CNN ended this previous February, is in superior talks to affix personal fairness agency RedBird Capital Companions.
Why it issues: Zucker would give added media trade depth to RedBird, because it will increase its deal with skilled sports activities investing.
- Along with CNN, Zucker was answerable for WarnerMedia’s Turner Sports activities division. He additionally as soon as led NBC’s Olympic Video games protection.
The massive image: RedBird just lately purchased Italian soccer membership AC Milan, is the lead investor within the XFL’s revival and in addition owns a bit of the guardian firm of the Boston Pink Sox, Pittsburgh Penguins and Liverpool F.C.
- RedBird’s founder, Gerry Cardinale, helped put collectively the Yankee Leisure and Sports activities Community (YES) whereas nonetheless a banker at Goldman Sachs.
Background: Talks between Zucker and RedBird have been first reported by The Ankler. Axios has since confirmed with a supply near the state of affairs.
- The Ankler additionally stated that Zucker would lead a $1 billion sports activities funding fund, though it is unclear how that fund would differ from the kinds of investments RedBird makes out of its flagship funds (it is at present elevating its fourth, after elevating $2.6 billion for Fund III final 12 months).
- RedBird declined to remark.