L.A. investment firm Houlihan, Lokey, Howard & Zukin will announce today the acquisition of Media Connect Partners, which provides financial advisory services to media, entertainment, sports and communications companies.
With the acquisition of the L.A.-based firm come three media-entertainment vets — Gary Adelson, Tracy Dolgin and Jon Richmond, who jointly founded Media Connect in January.
“I think the marketplace perceives a real value of having operators coming into the investment banking space,” said Richmond, former prexy of News Corp. digital unit News Digital Media and earlier a Disney legal and finance exec. “What we bring to the market is an insider’s view of the media world.”
Dolgin held several senior positions at Fox prior to co-founding Media Connect, and Adelson was managing partner at EastWest Venture Group.
“The founders have a variety of backgrounds (that) in one way or another have touched just about every part of the media market,” Adelson said.
“Gary, Tracy and Jon’s combination of real life operating experience with Houlihan Lokey’s long-time advisory and transactional expertise will make us a formidable team,” said Bob Holz, senior managing director and investment banking head at Houlihan Lokey.
Founded in 1970, Houlihan Lokey offers services in financial restructuring, mergers and acquisitions, financing, financial review and merchant banking. The Media Connect principals have relocated to the Houlihan’s Century City offices from previous space in Westwood.
Financial terms of the Media Connect acquisition weren’t immediately available.