Around the Net

'Big Media Refugees' Make Big Bets

  • Fortune, Tuesday, August 19, 2008 11:15 AM
Fortune's Richard Siklos profiles the digital exploits of Jonathan Miller and Ross Levinsohn, "two big-media refugees" who now think they can do what has thus far proven impossible for those of their kind: find or create legitimate online stars.

"Here's the thing: we make the bets we make, because we know what people need," Miller says. "In a way, we provide outsourced R&D for the media industry." As Siklos points out, both Levinsohn (Fox Interactive Media) and Miller (AOL) are deposed former digital chiefs from traditional media giants; in fact, they were both fired from their jobs within two days of each other in November 2006. Barely a week later, the pair decided to go into business together. Thus, Velocity Interactive Group was born.

Since then, Miller and Levinsohn have made 14 investments in a variety of "not wildly surprising" sectors, including online video, social media, and emerging markets like India. Broadband Enterprises, Generate, and NextNewNetworks are some of their more high-profile investments. Together, these properties represent a sort of "virtual studio," Miller says, in that Broadband produces and distributes video, Generate is a talent agency, and NNN programs niche online video networks.

Read the whole story at Fortune »

Next story loading loading..