Former Yahoo chief Ross Levinsohn has found a new gig as CEO of Guggenheim Digital Media, an off shoot of investment firm Guggenheim Partners which said Tuesday it anticipates allocating “significant capital” on new media.
Guggenheim Digital Media “will play an integral role in developing our iconic portfolio of existing media and entertainment assets, as well as identifying new, groundbreaking investments and partnerships in the music, media, technology, and digital entertainment spaces,” said Todd Boehly, president of Guggenheim Partners. “Ross’s deep industry expertise and impressive track record of executing digital media strategies make him the ideal person to spearhead this new effort.”
Levinsohn, who joined Yahoo in 2010, was responsible for all aspects of Yahoo’s digital media business and named interim CEO last year. He left after being passed over for the top job. He was president of News Corp.’s Fox Interactive Media and News Digital Media, a senior exec at AltaVista and CBS Sportsline and a co-founder and director of Fuse Capital. He sits on the board of Tribune.
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Levinsohn said he looks “forward to identifying new opportunities for growth as the media and technology industries continue to rapidly evolve.”
Guggenheim also announced Monday that it’s acquired the remaining stake in Prometheus Global Media from Pluribus Capital. Guggenheim Digital Media will oversee the Prometheus assets, including Billboard, Adweek and The Hollywood Reporter. It will manage The Film Expo Group and the CLIO Awards, and partner with other Guggenheim businesses, like recently acquired Dick Clark Productions, to develop digital media strategies.