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January 16, 2013

Former Yahoo CEO Appointed Chief Executive for Guggenheim Digital Media

By Brian Anderson, TMCnet Contributing Writer

According to Yahoo, former interim chief executive at Yahoo, Inc. Ross Levinsohn has been appointed CEO for Guggenheim Digital Media (GDM), a new branch of Guggenheim Partners.

“I am excited to be part of the dynamic Guggenheim family of companies,” Levinsohn said in a statement given by Guggenheim Partners. “GDM has a powerful and competitive portfolio of iconic media assets today, and I look forward to identifying new opportunities for growth as the media and technology industries continue to rapidly evolve.”

Levinsohn takes charge of the New York-based company after only spending two months as interim CEO for Yahoo, Inc. During his time at Yahoo, Levinsohn resolved a patent dispute with Facebook (News - Alert) and worked out the details of a plan for Alibaba Group Holding Ltd. to buy back a stake in itself, according to Bloomberg.

It was also announced in the statement that GDM had acquired the remaining stake in Prometheus Global Media from Pluribus Capital.

The publisher of the trade magazines Billboard, The Hollywood Reporter and Adweek, Prometheus Global Media will task the new CEO with developing and managing product for these publications, along with various other GDM assets.

“We have enjoyed a successful and profitable investment with Prometheus, and Guggenheim now has a dynamic runway for continued success, especially in light of their recent acquisitions in the media industry,” said Jimmy Finkelstein, founder of Pluribus Capital and former Chairman of Prometheus Global Media.

Guggenheim Partners currently has $160 billion in assets under management, and provides capital markets services along with offering advisory solutions to institutions, corporations and individuals.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO Miami 2013, Jan 29- Feb. 1 in Miami, Florida.  Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.

Edited by Braden Becker
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