David Levy, the former president of WarnerMedia’s cable and sports assets, has joined The Raine Group, an investment bank that specializes in the technology, media and telecommunication sectors. He is expected to help Raine identify and execute investment and advisory opportunities, and will be based in New York.
“The Raine Group is a leader in the world of modern sports content, and I’m thrilled to be a part of the firm as they work closely with leagues, conferences, and team
owners around innovative opportunities and new business ideas, as well as help Raine continue to develop their portfolio’s broadcasting and digital media offerings,”
said Levy, in a prepared statement. “I believe that a new wave of innovation is just beginning, and it’s exciting to be a part of a firm on the forefront of that movement.”
Levy had a long career at Time Warner, where he supervised the company’s U.S. portfolio of TV networks, advertising sales and distribution. He also built the company’s sports portfolio, helping to negotiate deals with the NCAA, PGA, NBA and MLB.
“I have been fortunate to know David for over 25 years and witnessed his tremendous impact on the sports and entertainment industry,” said Joe Ravitch, a co-foudner of Raine. “David’s history of innovation, execution and successful investing in the space, along with his strong track record in digital media and new business models, will help Raine remain on the cutting edge of this new chapter in our industries.”
The Raine Group has experience in the sports advisory and investing sectors. The firm was recently appointed by FIFA to assist with its plans for the Club World
Cup, helped Manchester City raise $500 million from Silver Lake, advised Endeavor on its acquisition of On Location Experiences and worked with FC Cincinnati to raise
$100 million from Meg Whitman. Raine has invested in companies such as DraftKings, Beachbody, Thrill One Entertainment, Premier Lacrosse League and Reigning Champs.
“David is a legendary figure in sports and media who brings a creative, forward-thinking approach to opportunities and problem solving,’ said Colin Neville, a Raine partner who oversees its sports efforts. ” We are excited to partner with David and know he will be a major asset for our portfolio companies and clients.”