Chris Albrecht Is Back In Business
By Jane Ivory
15:37, September 18th 2007
70 votes
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Chris Albrecht Is Back In Business

Chris Albrecht, former chairman and CEO of HBO, will head IMG's global media business, it was announced Monday.

Chris Albrecht’s career at HBO ended abruptly in May 2007 after he was arrested outside the MGM Grand in Las Vegas due to a “domestic dispute” with his girlfriend, as a Las Vegas Metropolitan Police Department spokesperson stated at the time.

He subsequently announced his leave of absence, which was granted by Time Warner, HBO’s owner. Albrecht had been working at HBO for some 20 years when he left in the midst of the scandal concerning his violent altercation.

He has now resurfaced however, as IMG’s hope for expanding its media business.

Albrecht has also been named a special limited partner in Forstmann Little & Co., and will work with Forstmann to raise a $250 million fund for investments in media and entertainment content, with IMG acting as lead investor.

The New York Times quotes Albrecht saying that he wishes to put the past behind him and focus on new projects. “I made a mistake, and I paid a big price for it,” he told the paper.

“This was not a situation that was going to define my entire life,” he added, referring to the arrest and his alcohol problem. At the time of his announcement of a hiatus from HBO, Albrecht confessed had been a sober member of Alcoholics Anonymous for 13 years and then had a relapse.

According to media reports, Forstmann Little & Co purchased IMG in 2004 and are now looking to turn it into a supplier of original entertainment programming in Hollywood.

The Times reports that Albrecht and Forstmann came to discuss business together through Ariel Emanuel, the Hollywood talent agent who runs Endeavor Agency and who supported Albrecht when HBO dismissed him.

Albrecht is responsible for the development of such HBO successful series as “The Sopranos,” “Six Feet Under,” “Band of Brothers,” and “Sex and the City.”

“IMG already has a growing presence in the rapidly evolving global media and entertainment markets and unparalleled international distribution capabilities,” Forstmann said in a statement.

“Chris will be instrumental in taking IMG to a new level based on his extensive background in creating, developing, distributing and marketing entertainment content, as well as his strong relationships throughout the entertainment community.”



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