Former Discovery Communications chief operating officer and long-time industry veteran Peter Liguori has joined The Carlyle Group, serving as a consultant and operating executive to the private equity giant's Telecommunications and Media team based in New York.
As an operating executive, Liguori will provide strategic guidance to Carlyle professionals throughout the investment process, from sourcing to acquisition to exit, and advise portfolio company executives on management, operational and growth strategies.
"Peter is a seasoned executive who has run several important media businesses and understands how to create value," said Carlyle managing director and head of the Telecommunications and Media team James Attwood in a statement.
In the cable sector, Carlyle most recently sold its interest in Insight Communications to Time Warner Cable for $3 billion. The Telecom and Media team also oversees Carlyle's existing investment in Nielsen Holdings NV. Since 2001, Carlyle has invested more than $8 billion of new equity in telecom and media investments globally.
"I am excited to work with Jim and his team given their record of value creation and deep knowledge of media and entertainment," Liguori said in a statement. "I believe this is a good time to invest in the media sector."
Liguori was most recently COO of Discovery Communications, serving as that cable network's No. 2 executive from 2009 to the end of 2011. Prior to joining Discovery, he spent 13 years with Fox Entertainment, serving as president and then chairman of entertainment for Fox Broadcasting from 2005 to 2009. Liguori was previously president and CEO of FX Networks. Prior to joining Fox, Liguori was vice president, consumer marketing, at HBO.