Raine Group, the merchant bank focused on media, tech and telecom, said it’s hired David Levy, former president of Turner and longtime entertainment executive, as senior advisor.
Levy left Turner last spring after an executive shakeup following Time Warner’s acquisition by AT&T. He brings over 30 years of sports media, major network broadcasting and advertising experience to Raine where he will identify and execute investment and advisory opportunities. He’ll be based in New York, Raine said.
Levy oversaw Turner’s domestic broadcast portfolio, ad sales, and distribution businesses. During his tenure there, Raine noted, Levy boosted investment in original premium content and negotiated deals with the NCAA, PGA, NBA and MLB.
“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,” said Levy. “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.”
Raine Group co-founder Joe Ravitch said, “Levy’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.”
Raine Group has become increasingly active in the sports advisory and investing space, including being hired by FIFA to assist with its plans for the Club World Cup; helping Manchester City raise $500 million from Silver Lake; advising Endeavor on its acquisition of On Location Experiences; and working with FC Cincinnati to raise $100 million from Meg Whitman.