Former NBC Universal CEO Bob Wright has taken a new job as a Senior Advisor to Lee Equity Partners. The private equity firm was launched in 2006 by Thomas H. Lee after he left the company which still bears his name. While Thomas H. Lee Partners has been active in broadcasting buyouts, including its pending deal to take Clear Channel private in partnership with Bain Capital, RBR/TVBR was unable to find any evidence that Lee Equity Partners has been involved in any broadcasting deals to date. That could well change with Wright on board.
"Bob is a visionary in both the financial services and media and broadcasting sectors and brings a wealth of knowledge and experience to Lee Equity Partners. I am so pleased that he is joining us," said Thomas H. Lee, President and CEO of Lee Equity Partners.
"I am grateful for the opportunities that General Electric Company has afforded me and am proud of my years of service and leadership there. I look forward to achieving equally great things with Tom Lee and his talented group of partners at Lee Equity," said Wright of his new job, following his long career with GE in its financial services and NBC operations. GE, meanwhile, said in an SEC filing that Wright will retire from his remaining post of Vice Chairman on May 1st.
Lee Equity Partners says its target market for private equity investments includes companies with enterprise values of between 500 million and three billion. Lee Equity calls itself “a generalist firm whose professionals have significant expertise in a number of industries, including Financial, Healthcare and Business Services, Retail and Consumer Products and Media.”