Random House’s Sarnoff to KKR

Exec will help private equity firm pursue media investments

Longtime Random House exec Richard Sarnoff has been recruited by private equity firm Kohlberg Kravis Roberts as a senior adviser to help pursue, in part, new investments in media, KKR said Tuesday.

As co-chairman of the U.S. operations of Random House parent Bertelsmann and president of digital media investments, Sarnoff most recently helped forge digital strategies at Random House and played a pivotal role in negotiating a settlement between the publishing industry and Google over the search engine’s books initiative.

Sarnoff becomes the latest media topper to move into private equity. List includes former Time Warner CEO Richard Parsons, now an adviser at Providence Equity Partners; former Viacom chief financial officer Richard Bressler, now a director at Thomas H. Lee Partners; and former AOL Time Warner co-chief operating officer Bob Pittman, founder of the Pilot Group.

“The privilege of having such a varied and long career at Bertelsmann and Random House — and contributing to the growth of leading companies in books, television, services and magazines and digital media — has been a great preparation for an active role in the transactions that will define the media industry in years to come,” Sarnoff said.

In addition, Sarnoff will serve on the board of Weld North, a partnership between KKR and Jonathan Grayer, the former head of Washington Post Co. education unit Kaplan. Sarnoff will help identify new investment possibilities in consumer services for Weld North.

Sarnoff’s great uncle was broadcasting pioneer David Sarnoff, the former chairman of RCA.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Digital News from Variety