To go along with the endlessly deep pockets of Guggenheim Partners, The Hollywood Reporter‘s parent company Prometheus Global Media now has two additional assets: a new name and a new leader.
Former Yahoo! and Fox Interactive Media exec Ross Levonsohn has been announced as the CEO of a new umbrella company, Guggenheim Digital Media. It’s intriguing mano-a-mano news for PMC’s Jay Penske, overseer of Deadline and Variety, and arguably an ominous development for Sharon Waxman‘s TheWrap:
In his role as CEO of Guggenheim Partners’ newly renamed Guggenheim Digital Media, Levinsohn will oversee THR, Billboard, Adweek, The Film Expo Group and the CLIO Awards. Levinsohn, no stranger to the art of the Hollywood deal, also will look to boost Guggenheim sister properties including Dick Clark Productions. He’ll be tasked with identifying new media businesses in which the global financial services company can invest — or acquire.
Levinsohn will be based in LA. Prometheus Global Media was always a mouthful as well as a corporate banner that conjured up a lot of rough memories. It’s all about brand baby, and with today’s news also comes confirmation from Guggenheim that they have acquired a remaining stake held in Prometheus by Jimmy Finklestein‘s Pluribus Capital.@GuggenheimPtnrs]