Blog Post

Chernin, R. Levinsohn: No Truth To Rumored Dismissal

While I was out last week, Tony Perkins managed to start a kerfluffle about former FIM president Ross Levinsohn allegedly raising a fund (a half billion, so the story goes) and being found out by Peter Chernin, president and COO of News Corp. The two principals say there’s no truth to the story on DealBreaker (complete with histrionic headline) playing off an interview by D7TV, which was picked up by VentureBeat. Levinsohn told me last night that the fundraising and the supposed discussion didn’t take place and today, in response to a question from me after a UBS session, Chernin said it was “not true at all.” (He also said he gets daily but that’s a different story.)
Earlier today, Perkins — who had been asked by Levinsohn to retract his comments after he apologized to him — finally did so.
Moral of the story: Drinking, gossip and video mixed with instant distribution can be toxic.

4 Responses to “Chernin, R. Levinsohn: No Truth To Rumored Dismissal”

  1. OF Media Exec

    weird string, John B. Goode…. sounds like you are a Ross L. plant or Ross himself. your comment and reply to Jill VC doesn't make sense. just sounds like you're trying to get your voice across instead of really responding. looks like grade school action to me…

  2. Jill VC- Its a clear cut case of BIG CORPORATE BS- RL was a guy who obviously was a talent who's real value wasn't recognized- Chernin stands to earn $25M this yr- if I was to bet RL made at best $1M, go figure if you work in Investment banking a bad yr for a guy w RL skills is $5M- wouldnt you bail on FIM??

  3. Heard the same story that Perkins did at the party from a very well known VC. Not a big deal. Perkins shouldn't have discussed it publicly especially on video, but it's probably true. Chernin now seems to be doing damage control for Ross's sake. IF CHERNIN was really a buddy, he would have let Ross close his fund while on top at Fox and exit gracefully. Better in the eyes of LPs too.

  4. John B. Goode

    Tony Perkins calls himself a journalist check your facts before running your mouth!- what a joke- The fact is Ross Levinsohn is and will continue to be an innovator!! So what is he's looking to raise $500M- as he should he's going to make Rupert and the corporate suits 3-5BILLION on the myspace deal of which he was going to make nothing on- Praise the entrepenuer- Ross cudos to you!!