OLD Media Moves

Former Dow Jones CEO Zannino joins private equity firm

July 15, 2009

Peter Lattman of The Wall Street Journal reports that former Dow Jones & Co. CEO Richard Zannino has found a job, nearly two years after the Journal’s parent company was sold to News Corp.

Lattman writes, “Mr. Zannino is joining CCMP Capital Advisors, a New York buyout firm with $10 billion under management. Formerly known as J.P. Morgan Partners before J.P. Morgan Chase & Co. spun it out in 2006, CCMP’s holdings include sandwich shop Quiznos Subs, AMC Entertainment and Spanish cable operator Grupo Corporativo Ono.

“The 50-year-old Mr. Zannino resigned as CEO of Dow Jones & Co., publisher of The Wall Street Journal, in January 2008 after News Corp. acquired the company for $5 billion. He joined Dow Jones in 2001 as chief financial officer after holding senior finance, strategy and operating positions at several companies, including Saks and Liz Claiborne.

“‘I came to realize that private equity is a natural next step,’ said Mr. Zannino, who last month joined the board of Internet media firm IAC/InterActiveCorp.

Read more here

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