Saban Capital Group, the Los Angeles-based private investment firm which till now has been investing in bigger PE-type traditional media deals, has now formed a separate digital media investment group, with a focus on, guess what, SoCal.
SCG, founded in 2001 by Haim Saban, founder of Fox Family Worldwide, has named Boost Mobile co-founder and former Softbank Capital and VantagePoint VC Craig Cooper as a managing director and head of the new digital media investment group, reports THR. More details in release.
Interestingly, the mandate for the new group is to do deals across the board, from early stage venture investing, to big ticket PE deals as well, running a bit counter to how others are investing in the market these days. The firm is claiming that the new group could well be the biggest in the region. No specific deals have been announced yet. Cooper sits on the board of mobile content retailer Thumbplay, which has been rumored to be on sale and it working with Morgan Stanley on it.