NEW YORK, April 13, 2020 /PRNewswire/ -- The Raine Group, a global merchant bank focused exclusively on technology, media and telecommunications, today announced that David Levy has joined the firm as a Senior Advisor. Levy brings over 30 years of sports media, major network broadcasting and advertising experience to the firm. He will work with Raine on identifying and executing investment and advisory opportunities and will be based in New York.
"The Raine Group is a leader in the world of modern sports content, and I'm thrilled to be a part of the firm as they work closely with leagues, conferences, and team owners around innovative opportunities and new business ideas, as well as help Raine continue to develop their portfolio's broadcasting and digital media offerings," said Levy. "I believe that a new wave of innovation is just beginning, and it's exciting to be a part of a firm on the forefront of that movement."
Levy previously served as President of Turner, where he oversaw the company's domestic broadcast portfolio, as well as its domestic ad sales and distribution businesses. During his 30 years at Turner, Levy increased investment in original premium content across the portfolio, leading to 33 Emmy Award nominations in 2018. Additionally, Levy led Turner to become a leader in broadcast sports, negotiating landmark deals with the NCAA, PGA, NBA, MLB, as well as expanding the network's premium international sports offerings.
Raine Group co-founder Joe Ravitch said, "I have been fortunate to know David for over 25 years and witnessed his tremendous impact on the sports and entertainment industry. David's history of innovation, execution and successful investing in the space, along with his strong track record in digital media and new business models, will help Raine remain on the cutting edge of this new chapter in our industries."
The Raine Group is highly active in the sports advisory and investing space. Recently the firm was appointed by FIFA to assist with its plans for the Club World Cup, helped Manchester City raise $500mm from Silver Lake, advised Endeavor on its acquisition of On Location Experiences and worked with FC Cincinnati to raise $100mm from Meg Whitman. The firm has invested in DraftKings, Beachbody, Thrill One Entertainment, Premier Lacrosse League and Reigning Champs.
Raine Group partner Colin Neville who leads Raine's sports practice said, "David is a legendary figure in sports and media who brings a creative, forward-thinking approach to opportunities and problem solving. We are excited to partner with David and know he will be a major asset for our portfolio companies and clients."
About The Raine Group
The Raine Group is a global merchant bank focused exclusively on technology, media, and telecommunications. The firm has offices in New York, San Francisco, Los Angeles, London, Shanghai, and Mumbai. With a global reach, Raine focuses on investment and advisory opportunities where its deep industry experience and unique network of strategic relationships can create value for portfolio companies and clients. For more information, visit www.raine.com.
SOURCE Raine Group