Blog Post

Industry Moves: Michael Powell Shifts From FCC TO VC

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.”