AC Milan's owners, RedBird Capital Partners (of Gerry Cardinale) along with Jeff Zucker and International Media Investments have announced that they have partnered together to create RedBird IMI , a joint venture investment vehicle focused on the acquisition and investment in mass media, entertainment and sports content globally.
RedBird IMI is launched with an initial capital of 1 billion dollars (approx. 950 million euros at current exchange rates). Jeff Zucker will be the company's chief executive officer and has joined RedBird as an operating partner. Zucker brings more than three decades of experience in media, sports, entertainment and digital innovation to this new experience.
Zucker served as CEO of CNN from 2013 to 2022, spearheading a brand turnaround. He also served as president of Turner Sports from 2019 to 2022. Previously, he spent 25 years at NBC Universal, where he served as CEO from 2007 to 2011. In 2007, he co-founded the online streaming service Hulu .
Gerry Cardinale said the following words regarding this initiative:
"We are very pleased to partner with IMI to create a long-term investment vehicle capable of owning and operating content-centric businesses across the media spectrum in the United States and in the world. With Jeff as our CEO, this platform will integrate substantial operational experience with sophisticated investment and financial acumen to deploy capital."
