Jeff Zucker is aiming to get back into the media business after his departure from CNN.

The veteran media executive, who has been CEO of NBCUniversal as well as president of the news outlet that is now part of Warner Bros. Discovery, will lead ReBird IMI, a joint-venture investment vehicle focused on acquiring and investing in large scale media, entertainment and sports content properties.  RedBird IMI, which includes investments from RedBird Capital Partners and International Media Investments, launches with initial committed capital of $1 billion.

“I’ve spent 35 years running media businesses at the intersection of news, sports and entertainment, creating new brands and resurrecting old ones,” Zucker said in a prepared statement. “That experience has given me unparalleled perspective for this unique time in media, and the combination of the RedBird and IMI capital and strategic discipline, combined with my operational experience, will give this joint venture a unique advantage in the current media landscape.”

More to come….

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