Former FCC Chairman Michael Powell has joined Providence Equity Partners. Reuters quotes CEO Jonathan Nelson saying Powell will help target and pursue opportunities for Providence "in his areas of expertise."
According to the company Web site, the private investment firm specializes in equity investments in communications and media companies. Its target investment size per deal is $20 million to $500 million. It counts radio and TV companies as part of its portfolio.
Powell became an FCC commissioner in 1997 and was named chairman in 2001. He left that post in March. Like his predecessors Bill Kennard and Reed Hundt, Powell joined the Aspen Institute, a Washington think tank, for several months after leaving the agency.
(Radio World)
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