Ross Levinsohn Departs Guggenheim Digital Media
Well-known Internet exec Ross Levinsohn has left his latest gig as CEO of Guggenheim Digital Media. The former interim CEO of Yahoo, who also was president of News Corp.’s Fox Interactive Group, joined the investment firm in January last year, focused on investing in digital properties and also overseeing Prometheus Global Media publications such as the Hollywood Reporter, Billboard and Adweek.
Guggenheim Digital Media is a unit of Guggenheim Partners, which started as a management firm for the Guggenheim family fortune. It claims it manages more than $160 billion in assets.
When he was hired, Guggenheim said that it would be giving him “significant capital to acquire and invest in new media companies.”
And Levinsohn did try to make a number of big acquisitions in the space, including bidding for both Hulu and Vevo, but none of these efforts resulted in a big deal. Perhaps that is why the group of execs he brought to Guggenheim to work with him, including Zander Lurie, has also left in recent months.
In a restructuring at Guggenheim, Levinsohn later did not have purview over the magazines, counter to a plan to spin them into a larger media configuration.
While his future plans are undetermined, Levinsohn serves on the boards of a number of media and Internet companies, including the Tribune Company, Zefr and Millennial Media, and he has been investing in a number of companies in the space.
He is also, as always, hairtastic.