Guggenheim won’t comment about Ross Levinsohn‘s departure, first reported by Re/code. But the development has been long expected, even though the former Yahoo interim CEO has only been at the investment firm’s media operation — which includes The Hollywood Reporter, Billboard, and Dick Clark Productions — since January 2013. When it hired Levinsohn, Guggenheim said that it planned to allocate “significant capital to acquire and invest in new media companies and properties that will meaningfully expand its current portfolio.” But it became clear by late last year that he had lost his mojo at the company. In November, Michel Protti – who was Levinsohn’s chief of staff at Yahoo – announced his plan to leave as Guggenheim Digital’s SVP Strategy and Operations to become Director of Emerging Business at Facebook. Then, in January, he lost Zander Lurie, a former CFO and M&A guy at CBS Interactive, who had joined in 2013 to help with Levinsohn’s expansion plans at Guggenheim Digital. He also lost control of THR and Billboard when Guggenheim Media promoted Janice Min to Chief Creative Officer of its Entertainment Group, which includes the magazines, with John Amato serving as co-president overseeing business affairs.
Levinsohn made his name in the digital world at News Corp where he ran Fox Interactive Media, and held senior roles at Fox Sports Interactive Media, and News Digital Media. In 2007 he co-founded Fuse Capital, an investment firm that specializes in digital media, before joining Yahoo where he oversaw global media until 2012 when he temporarily ran the company before the board gave the top job to Marissa Mayer.