The company, which began decades ago by serving as agents for top athletes, is trying to transform itself. Now its focus, in part, is developing content for new and traditional distribution channels around the globe--where it has a presence in 30 countries.
Albrecht will also have a role in IMG head Ted Forstmann's investment arm, which promises to raise $250 million for media and entertainment ventures in partnership with IMG and others.
During more than 20 years at HBO--five as Chairman-CEO--Albrecht is credited with shepherding a series of hits that transformed HBO, including "Sex and the City" and "The Sopranos."
Forstmann called him "a visionary--not only one of television's greatest creative minds, but also one of its most successful business executives."
Albrecht was forced out of HBO after he was accused of physically assaulting his girlfriend.
The nearly 30-year-old Forstmann Little & Co., which also controls 24 Hour Fitness and has owned and sold Dr Pepper and Gulfstream, bought IMG in 2004.