Scoop: Jimmy Finkelstein plans next big media venture
Jimmy Finkelstein, most recently the owner of The Hill, is planning to launch a new media company, sources tell Axios.
Why it matters: Finkelstein sold The Hill, a D.C.-based political newspaper, to Nexstar in August for $130 million.
Details: Finkelstein is looking to raise money in addition to using some of his own capital, sources tell Axios.
- The company will include digital, streaming, and social media components across an array of topics, primarily news, politics, sports and entertainment.
- The entity will be based in Florida, where Finkelstein now resides, but will have offices in major cities in the U.S.
- Finkelstein is looking to hire hundreds of reporters and staffers for the venture.
The big picture: Finkelstein has been a long-time media investor and entrepreneur.
- He co-founded a media holding group that purchased outlets like Adweek, Billboard and The Hollywood Reporter from Nielsen in 2009 and bought out of that investment in 2013.
What to watch: Finkelstein has been eyeing a number of other media investments over the past few months, including The Miami Herald, according to one source familiar with the conversations.
- Finkelstein says he can’t comment on anything he’s looked at.