Former CNN boss Jeff Zucker is buying a minority stake in Front Office Sports through his investment firm, RedBird IMI, the daily newsletter publisher announced on Monday.
CNN’s new boss warns industry ‘approaching peak disruption’ as staffers complain ‘morale is in the sh-tter’Atlantic reporter denies baiting ex-CNN CEO into saying infamous Zucker gym quoteZucker, through his investment firm, RedBird IMI, will buy an undisclosed stake in the company.
Zucker’s stake includes shares from SC Holdings, and buys out Crain Communications Inc., which bought a 20% stake in Front Office last year, according to Bloomberg.Jeff Zucker’s investment in Front Office Sports reportedly values the company at $40 million — $25 million more than 2021.
Zucker’s most recent job title of CNN Worldwide included oversight of the corporate behemoth’s sports media properties, among them Turner Sports, Bleacher Report and AT&T SportsNet.Since launching RedBird Capital Partners less than a decade ago, CEO Gerry Cardinale has invested in Fenway Sports, Artists Equity with Ben Affleck and Matt Damon, and SpringHill with LeBron James.
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