Less than a month after investor Todd Boehly merged the Billboard-Hollywood Reporter Group with other entertainment assets, the new company has made several staffing changes in its sales and marketing strategy ranks.
The new entity, called Valence Media, combines the Billboard-Hollywood Reporter Media Group with two other companies in Boehly’s portfolio: Dick Clark Prods. and entertainment production company Media Rights Capital. The company has put a $3 billion price tag on the value of the combined assets.
Since the formation of Valence, personnel changes have included the layoffs of at least three employees in the Billboard group, while Valence Media has hired four new staffers to manage brand partnerships across the company.
The new structure was instituted by Moksha Fitzgibbons (pictured above), who joined Valence Media this month as group chief revenue officer. Fitzgibbons previously was chief revenue officer of Complex Media (now owned by Verizon and Hearst), where he had worked since 2002. In the newly created role at Valence, he is tasked with building and creating ad products, services and packaging across Billboard/THR, DCP and MRC.
Those laid off included three execs in the Billboard Media Group: Kelly Watson, senior VP, programming/brand experience; Randy Bookasta, VP, industry relations and content development; and Zion Liu, associate director of brand programming. All three were formerly with SpinMedia, which Billboard-THR acquired in December 2016 to obtain digital-media brands Spin, Vibe, and Stereogum.
The four new Valence Media hires, who will work across all of the company’s properties, are: Mike Van, VP of brand partnerships, in L.A.; Stephen Eleby, director of brand partnerships, Chicago; Sara VanVooren, director of brand partnerships, Detroit; Marinelle Carino, director of brand partnerships, San Francisco; and junior executive assistant Kader Ampka Jr.
Fitzgibbons reports to John Amato, CEO of the Billboard-Hollywood Reporter Media Group, and DCP CEO Mike Mahan.
Boehly is chairman of Valence Media, which combines media and entertainment assets owned by his holding company Eldridge Industries. Valence is being run by Asif Satchu and Modi Wiczyk, co-founders and co-CEOs of MRC.