Thursday, August 11, 2005

Former FCC Chairman Michael Powell Joins Providence Equity Partners

Providence Equity Partners, a private venture capital firm, has hired
Michael K. Powell, former Chairman of the FCC, as a senior advisor. He will advise the firm on technology and regulatory issues in the media, communications and information industries, on selected new investment opportunities, and on certain of the firm's existing investments. The firm said Powell has chosen to affiliate exclusively with Providence Equity Partners in the private equity field.

Michael K. Powell spent over seven years as an FCC Commissioner, and was Chairman of the FCC from January 2001 to March 2005. Before being named an FCC Commissioner in 1997, Mr. Powell was Chief of Staff of the Antitrust Division in the Department of Justice.

Since 1990, Providence Equity has invested in more than 80 communications and media companies. Some of its past portfolio investments have included Allstream (formerly AT&T Canada), Brooks Fiber Properties, Casema (a Dutch cable operator), eircom (the incumbent fixed line operator in Ireland that was privatized in 2001), Kabel Deutschland, PanAm Sat, Telcordia Technologies, Warner Music Group, Western Wireless, and Yankee Entertainment and Sports (YES), among others.

  • In July, Kleiner Perkins Caufield & Byers (KPCB), a premier venture capital firm based in Menlo Park, California, announced the hiring of Former Secretary of State Colin Powell as a strategic limited partner. Colin Powell is the father of Michael Powell.

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