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Industry Moves: Michael Powell Shifts From FCC TO VC

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Former FCC Chairman Michael Powell has joined Providence Equity Partners as a senior advisor. The firm holds stakes in 80-plus media and communications companies including Warner Music Group, YES Network, MGM (with Comcast and Sony) and Crown Media. Sir Howard Stringer told the NYT: “Freed from the restraints of Washington, he’s a dazzling intellect. He really understands technology. He plays with technology. ... It’s a very difficult market right now for media. One minute we think scale is important. The next minute we think something else. All this gives Michael an opportunity to bring a fresh insight.” Providence CEO Jonathan Nelson says Powell brings “a unique and valuable perspective” while John Stanton, former CEO of T-Mobile USA, a Providence investment, takes the pragmatic approach—“There is virtually no telecom or business leader in the world that won’t take his call.”

Aug 11, 2005 1:10 PM ET
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