Leo J. Hindery Jr. is back in the media industry, this time with his own company.
Hindery said Tuesday that he is forming InterMedia Advisors, a private-investment firm that will specialize in the media industry.
Long-time media-industry advisor Peter Kern will be Hindery's partner in the new firm, which said in a prepared statement that it will make midsized to large media investments primarily in the United States in a variety of sectors in the media and communications industries.
“We believe that our fundamental industry experience, as investors and especially as operators, will give us a different kind of exposure to exciting media-industry opportunities,” InterMedia said in a prepared statement.
“We see the widening gulf between what strategic buyers are doing and what private equity is doing, and that presents a very appealing set of opportunities for a firm like ours,” the company added. “The partners and the advisory board have a collective depth of industry knowledge and expertise that will allow us to pursue unique and high-value opportunities."
Hindery has served as CEO of Yankees Entertainment & Sports Network, AT&T Broadband and Tele-Communications Inc.