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Guggenheim launches digital unit GDM

FROM DODGERS TO DIGITS: Guggenheim Partners, name-checked as a possible partner in Irving Azoff’s next adventure by I.B. Bad in his first column of the year, has formed Guggenheim Digital Media and named former Yahoo topper Ross Levinsohn CEO. As a part of its investment in GDM, Guggenheim anticipates buying and investing in new media entities to expand its portfolio. The newco will also oversee and operate the existing Prometheus Global Media assets that Guggenheim controls, including Billboard, The Hollywood Reporter and Adweek, and cooking up digital media strategies for other Guggenheim assets, including Dick Clark Productions. “GDM will play an integral role in developing our iconic portfolio of existing media and entertainment assets, as well as identifying new, groundbreaking investments and partnerships in the music, media, technology and digital entertainment spaces,” said Guggenheim President Todd Boehly. Yes, he said music. “Ross’s deep industry expertise and impressive track record of executing digital media strategies make him the ideal person to spearhead this new effort.” Additionally, Guggenheim has acquired the remaining stake in Prometheus from Pluribus Capital. But there’s no truth to the rumor that the company has picked up the contract of the Ting Tings, whose 2012 Columbia LP Sounds From Nowheresville contains the track “Guggenheim.” (1/16a)

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