Bret Bouttier, the former president of Awesomeness, is partnering with Betsy Morgan and Jeff Berman to launch a private equity-backed holding company — Magnet Companies — to acquire and grow consumer businesses, according to a report from Variety.
Together the three will look to acquire and build disruptive companies in the consumer demand space while also looking for existing brands that can be modernized to address contemporary consumer behaviors.
Bouttier most recently served as the president of Awesomeness, a digital media company that was purchased by Viacom last month. He joined the business and partnered with founder Brian Robbins in 2012, after its launch and Series-A funding. Before Awesomeness, Bouttier was senior vice president and general manager of digital at the Warner Bros Television Group.
Prior to the new venture, Morgan worked with LionTree, a merchant bank firm focused on technology and media. Before that, she was the CEO of Glenn Beck’s TheBlaze and the first CEO of The Huffington Post. She also spent ten years at CBS, where she was SVP for CBS Interactive and the general manager of CBSNews.com.
Berman most recently served as an executive in residence at Greylock Partners. Prior to his time at Greylock, he worked as president of the independent media company Whalerock Industries. Before that, he ran digital media businesses at the NFL, and served as president of sales and marketing at MySpace.
Negotiating the company’s financing was David Hernand of Paul Hastings with Bryan Wolf of Ziffren Brittenham advising the partners.