Joe Ianniello hopes to take advantage of M&A shakeups and technological disruption in media as he launches his a media-focused SPAC with a number of fellow CBS Corp. veterans. The former chief operating officer and CEO of CBS sees his next move as partnering with former peers in Big Media to acquire and help manage assets that may no longer be top priority for a large conglomerate, but are still big businesses.
Former longtime CBS executive Joseph Ianniello has launched a special purpose acquisition company, or SPAC, with a handful of former colleagues to scout for acquisitions in media, entertainment and sports. The firm called Argus Capital Corp, filed with the SEC Thursday to raise up to $300 million, offering 30 million units at $10. Ianniello is chairman and CEO of the group.