Angelakis to remain at cabler while serving Federal Reserve
Michael Angelakis, Comcast’s highly regarded vice chairman and chief financial officer, has been named to the board of directors of the influential Federal Reserve Bank of Philadelphia for a three-year term starting in January.
It won’t impact his role at the powerful Philly-based entertainment giant, where he added the vice chairman title last month and serves as a key adviser to topper Brian Roberts.
Angelakis joined Comcast in 2007 from a perch as managing director of Providence Equity Partners, causing a stir by becoming one of the few media top executives to jump from private equity — it usually goes the other way. He recently reupped with Comcast through 2016.
He was a key player in hashing out Comcast’s acquisition of NBC Universal from General Electric last year.
Comcast and Providence Equity worked together on a high-profile takeover of MGM back in 2004 along with Sony and other partners. That didn’t work out particularly well, and MGM filed for bankruptcy.