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Comcast‘s cable network “SpinCo” has appointed iHeartMedia and 21st Century Fox veteran Jordan Fasbender as chief counsel in a hire that completes the senior management team.
Mark Lazarus, the former chairman of NBCUniversal Media Group and prospective CEO of the new entity, announced the hire in a memo to employees.
“As we continue to build our team and position ourselves to become a stand-alone publicly traded company, we are fortunate to rely on Jordan’s experience and advice on a wide variety of matters from the spin itself to the business affairs of evolving media assets,” Lazarus wrote in the memo, which was obtained by Deadline. (Read it in full below.)
Consisting of all of the cable networks from NBCU’s portfolio except for Bravo, the new stand-alone company is aiming to complete its separation from Comcast by the end of the year. Last Friday, Deadline reported that the new company is looking at office space for its New York City headquarters and “closing in” on a name. The main hoops that Comcast and the Lazarus team will have to jump through are SEC compliance terms and various legal details. The spin is not slated to be subject to a full-fledged regulatory process, as NBC and Telemundo and local stations are remaining with the mother ship at Comcast.
Fasbender had been EVP, Chief Legal Officer and Secretary of iHeartMedia, overseeing legal, regulatory, business affairs, compliance, and government affairs groups. She has advised the company’s board of directors and senior management on a wide variety of issues and strategy including corporate governance, strategic transactions, corporate finance, digital technology, intellectual property, litigation, employment, regulation, public policy and privacy.
Prior to iHeart, Fasbender had been SVP and Associate General Counsel of 21st Century Fox, where she provided strategic counsel on mergers and acquisitions, corporate finance, SEC compliance and corporate governance. She helped guide the company through Disney’s $71.3 billion acquisition of most of the company and the resulting spinoff of the TV-focused Fox Corp. Previously, she practiced corporate law as an associate at Weil, Gotshal & Manges LLP.
Other hires announced in recent months for the new company include prospective CFO and COO Anand Kini; Kristin Newkirk, Chief Financial Officer; and Val Boreland, President of Entertainment.
Here is the full memo from Lazarus:
Team,
I’m thrilled to announce another addition to the senior leadership team of our future new company. Jordan Fasbender will join us as General Counsel towards the end of next month.
Jordan has been serving as the Executive Vice President, Chief Legal Officer and Secretary of iHeartMedia, where she oversaw iHeart’s legal, regulatory, business affairs, compliance, and government affairs groups.
She has been with iHeartMedia since 2019, which is the largest audio company in the U.S. that includes broadcast radio, streaming digital music services, podcasting, live and virtual events, and ad tech.
Prior to iHeartMedia Jordan was Senior Vice President and Associate General Counsel of Twenty-First Century Fox, where she provided strategic counsel on mergers and acquisitions, corporate finance, SEC compliance and corporate governance. It’s worth noting that she played a leading role in The Walt Disney Company’s acquisition of 21st Century Fox and the spinoff of Fox Corporation.
As we continue to build our team and position ourselves to become a stand-alone publicly traded company, we are fortunate to rely on Jordan’s experience and advice on a wide variety of matters from the spin itself to the business affairs of evolving media assets.
Please join me in welcoming Jordan to the team.
-Mark
