By: Staff reports
Zuckerman, Diller On Board
(The Hollywood Reporter) Leading financier Steven Rattner is quitting his post
as deputy chairman at Lazard Freres & Co. to form a new investment banking group
targeted at media, entertainment, and telecommunications deals. The Quadrangle
Group will be formed by Rattner and three other Lazard Freres executives: Peter
Ezersky and Joshua Steiner from Lazard’s media and entertainment practice and
David Tanner of the bank’s private equity unit.
Quadrangle has already raised $250 million and is on its way to building a $1
billion capital base. The firm has appointed an advisory board populated with such
media heavyweights as USA Networks Inc. chairman Barry Diller, Comcast Corp.
president Brian Roberts. and publisher Mortimer Zuckerman.
Rattner, a former New York Times reporter, has deep contacts in media and
entertainment circles and was involved in more than $100 billion in media
transactions at Lazard, including the sale of Random House to Bertelsmann AG,
Microsoft’s $1 billion 1998 investment in Comcast, and the 1997 sale of MGM Inc.
to Kirk Kerkorian.
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