Former CNN executive Jeff Zucker is returning to the media business as the leader of a media investment firm, according to a report from The Wall Street Journal.
RedBird Capital Partners has tabbed Zucker to lead its operations after a $1 billion partnership was announced with International Media Investments.
According to WSJ, Zucker will “focus on building, buying and investing” in sports, media, and entertainment entities.
“It’s a time of tremendous change in large part because of technology,” Zucker told the Journal. “This is also an incredibly exciting time around what comes next.”
A report from The Ankler in November revealed Zucker was in talks to lead the new entity, claiming RedBird Capital “has plenty of cash and resources to grow its footprint in the world of sports, it doesn’t boast a brand that necessarily on the outside would be commensurate with Zucker’s profile and experience.”
Zucker resigned his post at CNN earlier this year after failing to disclose a consensual relationship with a subordinate.
