Jeff Zucker has a new gig. The former president of CNN Worldwide has been officially named CEO of RedBird IMI, a joint venture from Zucker, RedBird Capital Partners, and Abu-Dhabi-based International Media Investments that’s focused on acquiring and investing in large-scale media, entertainment and sports content properties. (TVNewser)
RedBird, founded about eight years ago by former Goldman Sachs banker Gerry Cardinale, has a record of partnering with athletes, entertainers and well-known media executives to invest across sectors. (FT)
RedBird’s various sports-related ventures include a minority stake in Fenway Sports Group, which owns the MLB’s Boston Red Sox and the Premier League’s Liverpool Football Club, and an interest in LeBron James’ SpringHill Co. (Sportico)
International Media Investments is a private company that holds media investments overseas, including the National, Sky News Arabia, CNN Business Arabic and the Grid. (LA Times / Company Town)
The venture is launching with $1 billion in initial invested capital. (TheWrap)