Matt Donnelly Senior Film Writer Jeff Zucker is not shopping for CNN, according to one of the backing partners of his new media venture.
Gerry Cardinale, the private equity player and founder of RedBird Capital, partnered with International Media Investments last year to launch a $1 billion media acquisitions engine run by Zucker.
Reports were rampant in June that Zucker was looking to take CNN off the hands of Warner Bros. Discovery, after running the news network for decades before resigning in 2022 over a consensual workplace affair. “No,” Cardinale said on Thursday when asked if he and Zucker were looking to buy CNN, speaking on stage at the Variety and Sportico Sports and Entertainment Summit in West Hollywood. “I would not have the longevity that I’ve had if I ran my business running around town talking about deals in a way that’s, frankly, disrespectful to David Zaslav.
I’m kind of amused and irritated by it.” When asked further if Zucker was pursuing CNN with or without the backing of the new venture, called RedBird IIMI, Cardinale said, “there is no with or without me.” Not that Cardinale doesn’t see the appeal of the comeback story the reports represented.
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