Chris Albrecht leaving IMG
Started in September, following HBO ousterChris Albrecht has left global talent agency and TV producer IMG after a year.
When former HBO boss Albrecht was hired as head of IMG Global Media in September, IMG Worldwide CEO Ted Forstmann announced he was launching a $250 million media and entertainment content investment fund for Albrecht to work with in expanding IMG's media and entertainment business.
"However, market conditions intervened to frustrate that goal," Forstmann and Albrecht said in a joint statement Tuesday. "The parties are separating on an amicable basis, regretful that the association was unable to work."
Recently, IMG came close to buying half of Mark Burnett's production company for $250 million deal, but the deal didn't go through.
Under Albrecht, IMG made several smaller TV pacts, including one with Glassman Media to partner on producing and distributing unscripted television series.
Albrecht also orchestrated the sale of British series "Secret Diary of a Call Girl," produced by IMG-owned Tiger Aspect, to Showtime, which recently ordered two more seasons.
Albrecht said he will return to Foresee Entertainment, the independent production and distribution company he formed prior to joining IMG, "to seek business opportunities in the media and entertainment sector."