Thomas H. Lee Hires Former Viacom CFO
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Thomas H. Lee Partners, which is preparing to launch an $8-billion buyout fund, hired former Viacom Inc. Chief Financial Officer Richard Bressler to help with media investments.
Bressler, 48, will be a managing director and head the firm’s strategic resources group, which advises executives at companies it owns, Boston-based Thomas H. Lee said Monday. Before joining Viacom, the entertainment company controlled by Sumner Redstone, Bressler was chief executive of Time Warner Digital Media, a unit of Time Warner Inc.
“We are confident that Rich will add tremendous value to our portfolio companies and to our development of attractive new investment opportunities in the media and publishing sectors,” said Scott Sperling, co-president of the firm.
Thomas H. Lee plans this year to raise its biggest-ever buyout fund. It was part of an investors’ group that in 2003 bought Warner Music Group, the world’s fourth-largest music company, from Time Warner. Founder Thomas Lee, 61, plans to leave the firm this month and may start his own investment fund.
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