Jeff Zucker, RedBird Capital Partners and International Media Investments Launch Joint Venture to Invest in Global Media and Entertainment Properties
NEW YORK and ABU DHABI, United Arab Emirates, Dec. 13, 2022 (GLOBE NEWSWIRE) -- Jeff Zucker, RedBird Capital Partners (“RedBird”) and International Media Investments (“IMI”) today announced that they have partnered to create RedBird IMI, a joint venture investment vehicle focused on acquiring and investing in large scale media, entertainment and sports content properties on a global basis. RedBird IMI launches with initial committed capital of $1 billion.
Jeff Zucker Named CEO of RedBird IMI and Joins RedBird Capital as Operating Partner
RedBird IMI Launches with Initial $1 Billion of Committed Capital
NEW YORK and ABU DHABI, United Arab Emirates, Dec. 13, 2022 (GLOBE NEWSWIRE) -- Jeff Zucker, RedBird Capital Partners (“RedBird”) and International Media Investments (“IMI”) today announced that they have partnered to create RedBird IMI, a joint venture investment vehicle focused on acquiring and investing in large scale media, entertainment and sports content properties on a global basis. RedBird IMI launches with initial committed capital of $1 billion.
Jeff Zucker is the Chief Executive Officer of RedBird IMI, and he has also joined RedBird as an Operating Partner. Mr. Zucker brings more than three decades of leadership experience across news, sports, entertainment and digital innovation to the new venture. Mr. Zucker was the CEO of CNN from 2013 to 2022, leading a transformative turnaround of the global brand. He also was the President of Turner Sports from 2019 to 2022. Prior to that, he spent 25 years at NBC Universal, where he served as the CEO from 2007 to 2011. In 2007, he co-founded the online streaming service Hulu.
Jeff Zucker said, “I've spent 35 years running media businesses at the intersection of news, sports and entertainment, creating new brands and resurrecting old ones. That experience has given me unparalleled perspective for this unique time in media, and the combination of the RedBird and IMI capital and strategic discipline, combined with my operational experience, will give this joint venture a unique advantage in the current media landscape.”
Nart Bouran, CEO of IMI, said, “The RedBird IMI joint venture has come together at an important time as the media industry continues to evolve in both content creation and distribution to meet the evolving expectations of consumers globally. Partnering with Jeff Zucker and Gerry Cardinale will enable us to bring tremendous operational, investing and financial expertise to make impactful and transformative investments across the media, entertainment and sports landscapes.”
Gerry Cardinale, RedBird Founder and Managing Partner, said, “We are very pleased to partner with IMI to create a long-term, fully capitalized investment vehicle that can own and operate content-focused businesses across the media spectrum in the US and globally. The skill and experience of the combined team will allow us to identify assets that will benefit from the deployment of success-based capital to further scale or diversify, while also enabling the development of new companies competitively advantaged as market and consumer trends continue to evolve. With Jeff as our CEO, this platform will integrate substantial operating expertise with sophisticated financial and investing acumen to deploy transformational capital on a scaled basis.”
About RedBird Capital Partners
RedBird Capital Partners is a private investment firm that builds high-growth companies and provides strategic capital solutions to founders and entrepreneurs. Founded in 2014 by Gerry Cardinale, RedBird integrates sophisticated private equity investing with a hands-on business building mandate, with a focus on two core ecosystems – Media & Entertainment, Sports and Experiential Consumer, and Financial Services. Throughout his 30-year career, Cardinale has partnered with founders and entrepreneurs to build some of the most iconic platform companies in these industry focus areas. The firm currently manages over $7.5 billion in assets on behalf of a global group of blue chip institutional and family office investors. For more information, please go to www.redbirdcap.com.
About International Media Investments
International Media Investments is a private company based in Abu Dhabi that holds media investments, both digital and linear, across the globe, including The National, Sky News Arabia, CNN Business Arabic and The Grid. For more information, please go to www.internationalmediainvestments.com.
Media Contacts:
Jeff Zucker
Risa Heller
Risa Heller Communications
+1 646 545 6242
risa@risaheller.com
RedBird Capital Partners
Melissa Zukerman
Principal Communications Group
+1 323 658 1555
[email protected]
Dan Gagnier
Gagnier Communications
+1 646 569-5897
[email protected]
Paddy Harverson
Milltown Partners
+44 (0) 7793 850094
[email protected]
