We bet you don't remember Strauss "I'm Mr. Zelnick" Zelnick?
Published: Monday, March 05, 2007
-Shomari Hines Speaking of Reader's Digest. Mary Berner isn't the only one who came out on top after Ripplewood Holdings' $2.4 billion purchase of Reader's Digest Association. Remember that cool cat who most recently was the head of BMG Music? The dude that forced then Arista Records CEO Clive Davis to step off? Yeah Strauss Zelnick? Well apparently his firm ZelnickMedia pocketed a sweet $90 million after the Readers Digest deal closed last week.Lost in the media coverage of private equity firm Ripplewood Holdings' purchase of Reader's Digest Association was the company's simultaneous purchase of Time-Life, which resulted in a roughly $90 million profit for media mogul Strauss Zelnick's investment firm. See what taking Time Warner's stepchild business of their hand can do? ZELNICK NETS $90M [NYP] Labels: DickParsons, MaryBerner, RD, StraussZelnick, TimeWarner |



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