Digital media veteran Chris Russo has joined the sports and entertainment practice at international investment banker Houlihan Lokey, seeking to merge his experiences in company operations and corporate dealmaking.
Russo, who was a top media executive at the NFL and is the former chairman and chief executive of Big Lead Sports prior to its sale to USA Today Sports Media Group in 2012, will be a managing director in Houlihan Lokey’s technology, media and telecommunications group.
Russo last year aligned his media consulting practice, Fifth Generation Sports, with Mesa Securities Inc. to work on company acquisitions and financing. Houlihan Lokey bought Mesa Securities in June, paving the way for him to join the firm full time.
“I like the idea of working from a big platform, as Houlihan Lokey brings a lot of resources to bear,” Russo said. “At the same time, I think I bring an entrepreneur’s perspective to the operation.”
Russo will work primarily on capital raising and mergers and acquisitions, with a focus on companies active in digital media, e-sports, fantasy sports, and data and analytics. Houlihan Lokey, unlike some other investment bankers and venture capital firms, focuses on companies in their later stages of development.
Russo has already aided Houlihan Lokey managing director Mark Patricof, to whom he will report, in helping complete the $275 million Series E funding round for daily fantasy giant FanDuel that closed in July.
“A lot of teams are out there looking at sidecar businesses, whether it be media extensions, venue services, digital marketing, or what have you,” Russo said. “And virtually every part of the industry overall is expanding its digital capabilities in some way, assuming a bigger digital focus. So that all presents some really interesting opportunities.”
