Roger Faxon Joining Board of British TV Network ITV

DEAL OF THE WEEK: Who Wins in the $4.1 Billion EMI Sale
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The $4.1 billion price for Roger Faxon's EMI, the No. 4 music company, was higher than expected and came in above the $3.3 billion Len Blavatnik's Access Industries paid to buy the third-largest player, Warner Music Group, in May. But it fell far short of the $6.8 billion Terra Firma paid for EMI in 2007.

The former CEO of EMI Group will begin his new position at the end of October.

Roger Faxon, former CEO of EMI Group Ltd, is joining the board of the UK's Independent Television Authority (ITV) as a non-executive director effective Oct. 31, according to a release sent out by the network. ??

"Roger will bring to the board unmatchable experience of the adaptation of media and rights management business to the digital world," ITV chairman Archie Norman said in a statement. "His appointment reflects our commitment to the Transformation Plan embarked on two years ago."

"I look forward to contributing to the company's plans to revitalise this exciting British business." Faxon stated. "I am delighted to be joining ITV and working with Archie Norman and [chief executive] Adam Crozier." ??

ITV was launched in 1955 under the auspices of the UK's Independent Television Authority to provide competition to the BBC, which up until then had a monopoly on British television. ITV is the oldest commercial TV network in Great Britain.

??As CEO of the EMI Group, Faxon is credited with providing the major-label group with operational stability while its embattled owner, the private equity firm Terra Firma, was publicly struggling to meet its debt obligations to lender Citigroup. In Nov. 2011, Citigroup's auction of EMI ended with a Sony-led consortium submitting the winning bid for the music-publishing business and Universal Music Group prevailing in the bidding for the recorded-music operations.

??Faxon announced he would step down from EMI along with CFO Ruth Prior on Sept. 21 -- the day the European Union regulators approved the sale of EMI Music to Universal. He left the label a week later on Sept. 28.

Faxon currently serves as a board member for The Johns Hopkins University and the Songwriters Hall of Fame.

He joined EMI in 1994 as senior vp, business development & strategy and was responsible for EMI's worldwide market strategies. Faxon held a number of senior roles across the EMI Group, including: president and COO of EMI Music Publishing, joint CEO of EMI Music Publishing, a director of EMI Group Plc (until 2007) and CFO of EMI Group. He was the EMI Group's chairman of the board and CEO of EMI Music Publishing from March 2007 and became chief executive officer of EMI Group between June 2010 and Sept. 2012.

??Prior to 1994, Roger held finance, operations and general management positions, including working for five years with Sotheby's. From 1980-84 he served as evp and COO for Lucas Film, Ltd. where he guided the financial and operational affairs including the films Raiders of the Lost Ark and Return of the Jedi. He was also a founding partner of the Mount Company, a motion picture and TV production company; worked for Tri-Star and Columbia Pictures rising to the post of senior EVP of Columbia Pictures; and held several senior posts in the U.S. Government and spent six years on the staff of the US Congress.

??Since Norman's appointment in 2009 as chairman of ITV, the ITV board has undergone the retirement of eight directors and the appointment of Adam Crozier as chief executive. Following Roger's appointment, the board will consist of the chairman, two executive directors, and five non-executive directors.