Former CNN President Announces New Role Following Resignation Amid Controversy
Jeff Zucker, the former president of CNN, has revealed his next career move by launching a $1 billion sports venture. Zucker resigned from CNN in February after an internal investigation exposed an undisclosed relationship with a colleague, Allison Gollust.
During his tenure at CNN, Zucker was credited with enhancing the network’s ratings, particularly in the lead-up to the 2016 presidential election. He focused on increasing the number of opinionated programs and documentary filmmaking. Zucker joined CNN in 2013, transitioning from NBCUniversal, where he spent 25 years, initially gaining recognition as a top producer on the Today show alongside anchors Matt Lauer and Katie Couric. He served as CEO of NBC from 2007 to 2011 and co-founded the streaming service Hulu.
Zucker’s resignation came after the investigation into the firing of former host Chris Cuomo unveiled his relationship with Gollust, CNN’s chief marketing officer. Following the revelation, Gollust stated her intention to remain in her position, while Zucker announced that he would step down after nine years, expressing regret about the circumstances of his departure. “I certainly wish my tenure here had ended differently. But it was an amazing run. And I loved every minute,” he said in a statement at the time.
Speculation about Zucker’s future plans intensified after reports surfaced in November regarding a potential partnership with RedBird Capital. Gerry Cardinale, founder of RedBird, and Nart Bouran, CEO of IMI, praised Zucker’s extensive experience and expertise, emphasizing how it would benefit the new venture.
“With Jeff as our CEO, this platform will integrate substantial operating expertise with sophisticated financial and investing acumen to deploy transformational capital on a scaled basis,” Cardinale stated, highlighting Zucker’s more than three decades of experience in the industry.
RedBird and IMI are both reputable players in the sports and media sectors, with RedBird holding stakes in Fenway Sports Group, which owns the Boston Red Sox, as well as in SpringHill Co, a company co-owned by NBA star LeBron James.
