By Sahil Patel
Ross Levinsohn has left his post as CEO of Guggenheim Digital Media, a source confirms to VideoInk following a report from Recode.
Levinsohn is a hall-of-fame digital media executive, having worked at large companies from Yahoo to News Corp.
He was hired by Guggenheim Partners in January 2013 to oversee the company’s digital arm, with a major initiative to invest in and acquire digital media companies. At the time, Guggenheim said it would arm Levinsohn with “significant capital” to add to its portfolio, which it currently claims to be valued at more than $160 billion.
Since then, Levinsohn and Guggenheim Digital have been involved in various investment and acquisition talks, including bids for Hulu (the second time the video service was up for sale) and Vevo.
Neither came to fruition, though, and now Levinsohn is out.
Rumors of his impending exit go as far back as January, as Guggenheim finished 2013 without any major deals in the digital media space. A couple of Guggenheim Digital’s top executives — EVP Zander Lurie and SVP Michel Protti — had also left by then. It was only a matter of time before Levinsohn departed the company, industry sources said. In fact, when YouTube multi-channel network Machinima was searching for a chief executive to replace Allen DeBevoise*, we were told Levinsohn was in the running. That position later went to former Ovation TV executive Chad Gutstein.
Prior to Guggenheim, Levinsohn served as the interim CEO at Yahoo, assuming the role following former chief Scott Thompson’s ouster. He later left Yahoo when he lost out on the full-time CEO gig to Marissa Mayer.