Chris Albrecht, the former CEO of HBO who left amidst big controversy earlier this year, is joining talent agency IMG as the head of its global media unit. IMG has a big international sports and entertainment broadcasting and production business, though not that well known in U.S.

Meanwhile IMG’s owner Theodore Forstmann, owner of PE firm Forstmann Little & Co. that bought IMG in 2004, is also launching a $250 million media and entertainment content investment fund, and Albrecht will also be a Special Limited Partner in it. IMG is the lead investor and other strategic investors are still being scouted out.

NYTimes: Albrecht is hoping he can use the firm’s talent pool and worldwide distribution network to produce a hit maker. He talked about using IMG to market independent TV productions abroad and create on-demand digital content.

More info in release.